The corporate earnings season is under way, and CNBC’s Jim Cramer thinks the early reports from major banks all have something in common: they indicate consumer spending could soon surge.

“I think we’re at an inflection point where consumer spending can truly ramp up and ramp to a totally unexpected positive level, especially with millions of parents getting their child tax credit [checks] just this week,” he said on “Mad Money.”

JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo all beat Wall Street estimates. Bank of America posted better-than-expected earnings, but it came up short on the revenue line.

“Americans are in fabulous financial shape right now, which means we’re gonna spend a lot of money when we climb out of our Covid foxholes,” he added. “Prepare your portfolio accordingly.”

Cramer named the following stocks as his picks to play a potential consumer spending boom:

  • Delta, down 22% from April highs
  • American Airlines, down 21% from March highs
  • American Express, down 1% from peak last week
  • Poshmark, down 27% from June highs
  • Brunswick, down 17% from May highs
  • Best Buy, down more than 14% from May highs
  • Costco, down 1% from Monday peak
  • Williams-Sonoma, down 17% from May highs
  • RH, down 7% from April highs
  • Apple, closed Wednesday at record
  • T-Mobile, closed Wednesday at record
  • Qualcomm, down 14% from January highs
  • Broadcom, down 3% from February highs
  • Skyworks Solutions, down 6% from April highs

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