— Cramer's WATCH group of large retailers — all made gains because "the big five retailers have too much power for the tariffs to cause them serious problems."
There was a "bifurcation," or separation, in the tech sector, Cramer said. The cyclical companies that depend on a growing economy rose on the market, while the secular names that will do well in either a strong or weak economy saw their stocks initially fall on those developments, though they managed to bounce back from big losses, he noted.plan to hold meetings in Washington, D.C.
, well above the 140,000 that economists surveyed by Dow Jones anticipated. The number topped the 142,000 increase in July and was the best result since the 255,000 recorded in April. More than half the new jobs were in education and health services. The Labor Department will release its closely watched jobs report on Friday, which could tell a different story than the numbers from ADP, the largest player in payroll processing. The nonfarm payroll report showed that the economy added 164,000 jobs last month., which was ahead of the 1% that economists polled by Reuters were expecting. That's nearly a full point higher than what was recorded in June. With those stats increasing, Cramer said he isn't sold that a recession is looming.
"The combination of these positive data points allowed long-term interest rates to shoot higher," he said. "Everyone's worried that long rates are too low — that's the big warning signal that a recession's supposed to be inevitable. When long rates go back up, that tamps down on the slowdown chatter and allows stocks to rally."Disclosure: Cramer's charitable trust owns shares of Amazon, Home Depot, Honeywell and Caterpillar.
MadMoneyOnCNBC Perhaps...!!!
MadMoneyOnCNBC Crossing my fingers.
Hmm? How much of the markets value is due to tech and tech related beneficiaries. I never did understand the allure of contaminated burritos and other me too products. Nevertheless, I wish I dabbled with some LEAPS.
Sooo no need for fed cuts since everything is fine now?