<div id="readability-page-1"><span></span><div><p>CNBC's Jim Cramer said Friday that stock investors need to remember the bond market is in the driver's seat at the moment — a dynamic that looms large ahead of key earnings reports next week.</p><p>&#34;The bond market's wrath can smackdown any stock market no matter how robust,&#34; said the &#34;Mad Money&#34; host.</p><p>On Friday, Treasury yields jumped higher as oil prices surged after President Donald Trump told Fox News that he is &#34;not going to be much more patient&#34; with Iran, adding that &#34;they should make a deal.&#34; Concerns about inflation also diminished hopes for interest-rate cuts from the Federal Reserve, Cramer noted. </p><p>&#34;We need a tame bond market for stocks to keep advancing, which means we need oil to come down, and that's not happening unless we get an end to the war,&#34; he said. </p><p>Cramer said that in addition to triple-digit oil and one-year highs for the benchmark 10-year Treasury yield, signs of speculative excess in recent IPOs require a more cautious stance toward equities. </p><p>&#34;You know haven't been a doomer...I haven't been a bear at all. But a smart bull needs to recognize when the facts change and I'm very worried that we're headed for the kind of reckless flood of IPOs that always leads to heartbreak,&#34; Cramer said. &#34;We aren't there yet. But we need to be wary of the possibility and we need to protect our gains.&#34; </p><p>With that, Cramer turned to the week ahead. </p></div><h2>Monday </h2><p>The head of <span id="NewsShowArticle-QuoteInBody-6">Caterpillar's<span><span id="-WatchlistDropdown"></span></span></span> power and energy business, which is benefitting from the data center construction boom, is meeting with Wall Street.  While Cramer said he loves the company, he warned the stock's valuation looks overheated after a major run. &#34;It's like a tech stock,&#34; he said. </p><h2>Tuesday </h2><div><p><span id="NewsShowArticle-QuoteInBody-8">Home Depot<span><span id="-WatchlistDropdown"></span></span></span> — a holding in Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club —reports after struggling under the weight of higher rates. Cramer isn't expecting much, but said results that are &#34;not terrible&#34; could spark a relief rally. </p><p><span id="NewsShowArticle-QuoteInBody-10">Vertiv Holdings<span><span id="-WatchlistDropdown"></span></span></span>, a major data center infrastructure player, could post a huge number, Cramer said, though expectations are already elevated after a massive stock run. </p><p>After the close, Cramer's &#34;favorite homebuilder&#34; <span id="NewsShowArticle-QuoteInBody-11">Toll Brothers<span><span id="-WatchlistDropdown"></span></span></span> reports. With its focus on luxury homes, Cramer said it's a decent time for Toll but rising mortgage rates make it tough to own any homebuilding stocks. </p></div><h2>Wednesday </h2><div><p>Cramer expects <span id="NewsShowArticle-QuoteInBody-12">Lowe's<span><span id="-WatchlistDropdown"></span></span></span>, which reports in the morning, to potentially outshine Home Depot given its greater exposure to do-it-yourself consumers in a weak housing market. </p><p>After the bell, the spotlight shines on <span id="NewsShowArticle-QuoteInBody-13">Nvidia<span><span id="-WatchlistDropdown"></span></span></span>. </p><p>&#34;If the data center is the most important piece of this economy…then Nvidia is at the heart of the data center,&#34; Cramer said. </p><p>He reiterated his long-held view that investors should own, not trade, the stock. Cramer's Charitable Trust has owned Nvidia since 2019. Still, after its massive run, Cramer said Nvidia will likely need a &#34;perfect quarter&#34; to move meaningfully higher. He said he thinks it may deliver one. </p></div><h2>Thursday </h2><div><p><span id="NewsShowArticle-QuoteInBody-14">Walmart<span><span id="-WatchlistDropdown"></span></span></span> reports, and Cramer remains bullish. &#34;I remain convinced that Walmart is one of the greatest companies of the era,&#34; he said, praising its broad appeal and value proposition. </p><p>Software company <span id="NewsShowArticle-QuoteInBody-15">Workday<span><span id="-WatchlistDropdown"></span></span></span> also reports as investors debate whether artificial intelligence will disrupt traditional software-as-a-service businesses. While Cramer said he doesn't expect weak results, he warned investors remain skeptical about software names. </p></div><h2>Friday </h2><p><span id="NewsShowArticle-QuoteInBody-16">BJ's Wholesale Club<span><span id="-WatchlistDropdown"></span></span></span> reports. Cramer said there may be a catch-up opportunity in the smaller retailer, though <span id="NewsShowArticle-QuoteInBody-17">Costco<span><span id="-WatchlistDropdown"></span></span></span> remains his long-term favorite. Costco is also a holding in the Charitable Trust.</p><div><div id="NewsShowArticle-RelatedContent-1"><div><div><h2>Jim Cramer's Guide to Investing</h2><p>Click here to read <strong>Jim Cramer's Guide to Investing</strong><strong> </strong>at no cost to help you build long-term wealth and invest smarter</p></div></div></div></div><div><p><em>Sign up now</em><em> for the CNBC Investing Club to follow Jim Cramer's every move in the market.</em></p><p>Disclaimer</p><div><p>Questions for Cramer?<br/> Call Cramer: 1-800-743-CNBC</p><p>Want to take a deep dive into Cramer's world? Hit him up!<br/> Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram</p><p>Questions, comments, suggestions for the &#34;Mad Money&#34; website? madcap@cnbc.com</p></div></div><div><p>Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.</p></div></div>

<p>Jim Cramer warns that rising bond yields could jeopardize the stock market rally and diminish the likelihood of interest rate cuts. He emphasizes the bond market's influence on stocks, particularly ahead of key earnings reports. Cramer expresses concerns over high oil prices and speculative excess in IPOs, urging caution among investors. He discusses upcoming earnings from companies like Caterpillar, Home Depot, Nvidia, and Walmart, highlighting the need for strong performances to sustain market momentum.</p>

CNBC

Caterpillar

Home Depot

Fox Corp -B

Vertiv

Toll Brothers

Lowes

NVIDIA

Walmart

Workday

BJs Wholesale Club

Costco Wholesale

NVIDIA Corporation

Jim Cramer: Why the bond market has become a thorn in the market's side