Jim Kramer of CNBC said Friday’s employment report from the Labor Department has satisfactory markets on Friday, at least for the interim.
The U.S. economy added 9379,000 jobs last month and the unemployment rate fell, while stocks bounced off their day lows and dragged three days of difficult trading to end the week on a week-high note.
Economists forecast growth in the job market by 210,000 in February.
“Mad money.” “The number of jobs that are strong, but not as strong, is what this crazy market needed today, although it took Wall Street half a day to bring that figure down,” Kramer said after the closing of “Mad Money.”
The main stock index closed with a gain of about 2% higher after trading in the red in the morning. The Dow Jones Industrial Average rose 572 points, or 1.85%, to 31,496.30, ending 1.82% after a volatile week. The S&P 500 rose 1.95% to 3,841.94 on Friday, ending the week in positive territory.
After closing on the red Thursday, the Nasdaq Composite jumped 1.55% on Friday to reach 12,920.15. The tech-heavy index sold growth stocks with a gain of 2.06% over the week.
The U.S. will continue to recover from last year’s coronavirus-inspired business downturn and restrictions, Kramer said in a February labor report that did little to force the Federal Reserve to raise interest rates to reduce inflation as the economy grows.
“It was a hidden-goldilks report: many more people are being hired because of the vaccine rollout and reopening, but not so much that the Fed is pushing up interest rates, and some are really lagging behind.” He said.
Wall Street is on standby to see if the uptrend will continue or if the downtrend in stocks will resume. The bond market is still under control, as investors move from high-growth stocks to value and cyclical names until rising Treasury yields stabilize, Kramer added.
Long-term treasuries are a bellwether for lending rates. As higher rates make cyclone stocks more attractive, investors will reduce their appetite for risky assets.
“I’m betting the Bonds scoundrel will come back, so be prepared to relax using rallies like today, as we did for my charitable trust at the end of the day, and will definitely relax in high-flying dreamer stocks.” Said. “That way you’ll have some cash to deposit for real companies the next time you surrender, just like yesterday afternoon.”
Kramer gave his game plan for the next week. Earnings-per-share estimates are based on factset estimates:
Monday: Stitch fix
- Q2 2021 Earnings Release: After Market; Conference call: 5 p.m.
- Estimated loss per share: 22 cents
- Estimated revenue: 12 512 million
“A great quarter won’t produce the kind of explosive reaction we’ve had last time,” Kramer said. “Still, I’m betting that’s better than expected because this is a big business.”
Tuesday: Dick’s Sporting Goods
- Q4 2020 Earnings Release: Before Market; Conference call: 10 am
- Projected EPS: $ 2.30
- Estimated revenue: 7 3.07 billion
He said, ‘I expect Dick to deliver a very strong number, which could send the stock flying.’
Wednesday: Campbell Soup, Oracle
- Q2 2021 Earnings Release: Before Market; Conference call: 8:00 am
- Projected EPS: 83 cents
- Estimated revenue: 3 2.3 billion
“So far, they have failed to impress in these pantry stocks,” Kramer said. “I can’t go against the wisdom prevailing here, although I think this company has won enough in live-on-homers with its snacks ings fur that you won’t be disappointed, and you’ll get that 3.2% yield.”
Oracle
- Q3 2021 Earnings Release: After Market; Conference call: 5 p.m.
- Projected EPS: 11 1.11
- Estimated revenue: .0 10.05 billion
“It’s the kind of low-risk tech stock that people suddenly like.” [as opposed to] “High flyers,” he said. “It’s still falling apart, so I was willing to recommend Oracle [tonight], But I got a punch auction. A large brokerage house pushed him today, sent the stock up 6%, stole my roar. “
Thursday: JD.com, Ulta Beauty
- Q4 Earnings Release: Before Market; Conference call: 7 p.m.
“JD.com is one of the Chinese stocks I like because it’s another ‘Amazon’ item from China. It’s like Alibaba, you know I like it, but it’s growing fast,” Kramer said.
Reverse Beauty
- Q4 Earnings Release: After Market; Conference call: 5 p.m.
- Projected EPS: $ 2.32
- Estimated revenue: 7 2.07 billion
“The country is going to experience an explosion of sales when it reopens. The epidemic hit the e-commerce market … but now that we are vaccinating, their brick and mortar business may be back.” “Plus, they’re rolling out a new target collection. I’ll be a buyer before that quarter.”
Disclosure: Kramer’s charity Rust owns shares in Amazon.
Disclaimer
Questions for Kramer?
Call Cramer: 1-800-743-CNBC
Want to take a deeper dive into the world of Kramer? Hit it!
Mad Money Twitter – Jim Kramer Twitter – Facebook – Instagram
Questions, comments, suggestions for the “Mad Money” website? [email protected]
.
