“Remember, if we’re going to avert a slowdown next year, we need the president to make some kind of deal with the Chinese, and I don’t think we’ll get one. That’s the problem here, at least for stocks,” the “Mad Money” host said ahead of the G-20 summit, where President Donald Trump is supposed to meet with China President Xi Jinping to talk trade.
Ahead of what Cramer believes will be a no-deal result, he suggested investors that haven’t bought into stock yet shouldn’t buy until Monday. Those who have may want to “do some trimming” on Friday, “especially of your weaker stocks,” he advised.
“The important thing, though, is that you brace yourself for some weaker data, the data that caused the Fed to recalibrate, pulling back from its earlier plan for an aggressive series of lockstep rate hikes,” he said. “There’s no ticking time bomb. However, there is a degree of risk that makes me uncomfortable going into this weekend, even as we no longer need to fear the Fed as much as we did 48 hours ago.”