The March employment report was good enough to dim worries about a recession and not rattle the Federal Reserve, CNBC’s Jim Cramer said Friday.
“Mad Money” host said.
The U.S. economy added 196,000 jobs, topping estimates for 175,000, and unemployment maintained a 3.8% rate. The number was a rebound from February’s abysmal 20,000 addition to nonfarm payrolls.
Wage growth, however, eased a bit, increasing just 0.14%.
“As investors in the stock market, a labor report that shows strong growth with little wage growth is really the perfect combination,” Cramer said. “Of course, it’s not so great if you work for a living and were hoping for a raise. Great for the stock market, though.”
The Dow Jones Industrial Average rose more than 40 points during the session. The S&P 500 and Nasdaq both gained about 0.50%.
Cramer said the market didn’t run very high because “we’ve been up for seven straight days—there was a lot of money betting to get a strong jobs number. In other words, it was already baked in.”
Here’s Cramer’s game plan for next week:
from Viral News Reports http://bit.ly/2KbQQB2
0 Comments