Cramer: Weight loss drug impact on Walmart, PepsiCo still unclear; bonds, PepsiCo worth buying now

CNBC's Jim Cramer said it may be too soon to tell how weight loss drugs will affect food stocks like Walmart or PepsiCo.

Walmart said it sees a "slight change" in food shopping that may be due to customers using appetite-suppressing medications.

PepsiCo reported a solid quarter that beat estimates and raised outlook, suggesting it shouldn't fear weight loss drug popularity yet.

Cramer suggests investors take interest in the bond market, locking in 10-year Treasurys while yields are high.

Cramer says it's unclear how the weight loss drug situation will play out, but bonds and PepsiCo are worth grabbing before they get too expensive.