NEW YORK — As Wall Street braces for a potential rebound, CNBC's Jim Cramer outlined his top 10 things to watch in the stock market on Friday, February 6, 2026, following a turbulent three-day slide that has left investors on edge. The broader market indices, including the S&P 500 and Nasdaq, have shed significant ground this week amid concerns over inflation data, geopolitical tensions, and upcoming earnings reports from major tech firms. Cramer's commentary, delivered during his regular segment on CNBC, comes at a critical juncture as traders seek signs of stabilization after the Dow Jones Industrial Average dropped more than 1,200 points over the past three sessions.
According to CNBC, stocks are poised to attempt a recovery on Friday, with pre-market futures showing modest gains in select sectors like technology and consumer goods. Cramer, known for his energetic style and Mad Money show, emphasized the importance of monitoring Federal Reserve signals, as Chair Jerome Powell's recent testimony before Congress hinted at a cautious approach to interest rate cuts. 'We need to see if the Fed is serious about easing,' Cramer said in the segment, urging viewers to keep an eye on any fresh remarks from policymakers that could sway sentiment.
The three-day downturn began on Tuesday, February 3, when hotter-than-expected jobs data reignited fears of persistent inflation, prompting a sell-off in bonds and equities alike. By Thursday's close, the S&P 500 had fallen 2.8% for the week, while the Nasdaq Composite, heavily weighted toward tech stocks, declined 3.5%. Market analysts attributed much of the volatility to profit-taking after a strong 2025 rally, compounded by uncertainties surrounding the U.S. presidential election cycle and trade relations with China.
Cramer's list of top watches includes several key earnings releases scheduled for Friday. Among them is Alphabet Inc., Google's parent company, expected to report quarterly results after the bell on Thursday, with analysts forecasting revenue of $86.3 billion, up 11% from the previous year. 'Alphabet could be a bellwether for AI investments,' Cramer noted, highlighting how the company's cloud and search divisions might provide insights into enterprise spending trends amid economic slowdown fears.
Another focal point is Amazon.com Inc., set to unveil its figures, where Wall Street anticipates net sales of $170.1 billion for the holiday quarter. Cramer pointed out potential pressures from rising logistics costs but expressed optimism about the e-commerce giant's advertising and AWS segments. 'If Amazon beats estimates, it could lift the entire consumer discretionary space,' he remarked, referencing how the stock has underperformed peers like Walmart amid shifting retail dynamics.
Beyond earnings, Cramer advised watching commodity prices, particularly oil, which surged above $80 per barrel this week on supply disruptions in the Middle East. Brent crude closed at $82.50 on Thursday, up 4% over three days, according to Bloomberg data. This uptick, Cramer said, could benefit energy stocks like Exxon Mobil but pressure airlines and transportation firms sensitive to fuel costs.
In the bond market, the 10-year Treasury yield climbed to 4.2% by Thursday's end, reflecting investor skepticism about near-term rate relief. Cramer linked this to recent consumer price index readings that showed core inflation at 3.2%, above the Fed's 2% target. 'Yields are telling us the easy money party might be over,' he warned, suggesting that higher borrowing costs could weigh on housing and auto sectors in the coming months.
Geopolitical developments also featured prominently on Cramer's radar. With ongoing conflicts in Ukraine and the Middle East, he flagged potential impacts on global supply chains. 'Any escalation could spike defense stocks like Lockheed Martin, but hurt multinationals reliant on stable trade,' Cramer observed, citing reports from Reuters about increased U.S. military aid commitments that might boost related equities.
From a sector perspective, healthcare stocks have shown resilience, with the XLV ETF up 1.2% this week despite the broader slide. Cramer highlighted UnitedHealth Group, which reported strong enrollment numbers, as a defensive play. 'In uncertain times, people don't cut back on health needs,' he said, pointing to the sector's low beta as a hedge against volatility.
Conversely, the financial sector faced headwinds, with banks like JPMorgan Chase dipping 2% on Thursday after mixed results from regional lenders. Cramer's watch list includes monitoring credit spreads, which widened to 150 basis points, signaling rising default risks in commercial real estate. According to Federal Reserve data, office vacancy rates in major cities like New York and San Francisco have hit 20%, exacerbating concerns for lenders.
Tech giants beyond Alphabet and Amazon, such as Meta Platforms and Tesla, were also on Cramer's mind. Meta's ad revenue growth, projected at 22% year-over-year, could underscore the strength of digital advertising, while Tesla's delivery numbers for Q4 2025 are expected to show a 15% increase, potentially alleviating worries about EV demand slowdowns. 'Elon Musk's updates on Cybertruck production will be crucial,' Cramer added, noting the stock's 30% gain since January lows.
Broader economic indicators round out the list, including the Institute for Supply Management's services PMI, due Friday morning, forecasted at 52.5. A reading above 50 would indicate expansion, providing a counterbalance to manufacturing weakness. Cramer stressed the services sector's 70% contribution to GDP, saying, 'If services hold up, the soft landing narrative stays alive.'
Looking back, the market's slide echoes similar corrections in 2022 and 2023, when Fed tightening led to 10-15% pullbacks before recoveries. Historical data from S&P Dow Jones Indices shows that three-day drops of this magnitude often precede short-term bounces, with 60% of instances seeing gains in the following week. However, Cramer cautioned against complacency, referencing the dot-com bust's lessons on overvalued tech.
Investor sentiment, as gauged by the AAII survey, turned bearish this week, with only 25% bullish compared to 45% a month ago. This contrarian signal, per Cramer, might fuel Friday's rebound. Retail traders on platforms like Robinhood have increased short positions in meme stocks, adding to intraday swings.
As the weekend approaches, options expiration on Friday could amplify moves, with open interest in S&P 500 contracts exceeding 2 million. Traders are positioning for volatility, with the VIX index closing at 22, its highest since November 2025. 'Quad witching days like this can be wild,' Cramer advised, recommending diversified portfolios over speculative bets.
The implications of Friday's action extend beyond Wall Street, potentially influencing consumer confidence and spending. With holiday retail sales data showing a 2.1% uptick in December 2025 per Commerce Department figures, any sustained rebound could bolster economic growth projections for the first quarter of 2026, now estimated at 2.4% annualized by economists at Goldman Sachs.
Looking ahead, the following week brings more earnings, including Apple and Microsoft, alongside Powell's post-FOMC press conference on February 17. Cramer suggested that clarity on rate paths could set the tone for March. 'Investors should buckle up; this is just the start of a pivotal year,' he concluded, encapsulating the mix of opportunity and risk in the current environment.
For now, all eyes are on Friday's open at 9:30 a.m. ET, where volume is expected to surge past 10 billion shares, per NYSE estimates. Whether the rebound materializes will depend on a confluence of these factors, but Cramer's guidance offers a roadmap for navigating the uncertainty.