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Jim Cramer predicts how Merck's new Covid pill could affect market action the week of Oct. 4
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Positive trial results from Merck’s new Covid pill wowed investors Friday, but CNBC’s Jim Cramer believes the market will quickly turn its attention elsewhere.
“Earnings season is about to take center stage,” Cramer said on his “Mad Money” show Friday.
As investors hear financial updates from companies like PepsiCo and Levi Strauss & Co in the week ahead, Cramer anticipates there could be a sell-off in certain stocks.
“I expect profit-taking next week as investors refocus on earnings that reflect the worst days and the Delta variant,”
Profit-taking is when investors sell shares to lock in gains after a stock rallies significantly.
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