Cramer's 'Mad Money' Recap: Why the Data Didn't Matter
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NEW YORK ( TheStreet) -- Have the markets lost their minds or did Friday's miserable unemployment number just not matter?
That's the issue Jim Cramer pondered. He told his "Mad Money" viewers that while it might seem unfathomable the markets could rally on a day with so much bad news, in reality the markets' reaction makes perfect sense.Cramer said that first, with the economy still stalled, the markets are once again hoping for an early Christmas present from the Federal Reserve next week. If things get bad enough, the Fed will surely have to act. At least, that's the thinking on Wall Street. Second, Cramer reminded viewers the U.S. is no longer at the center of the economic universe -- Europe is, and hope still springs eternal the continent is about to do the right thing. Third, Cramer said the Chinese pulled the trigger on some big stimulus projects, which is great news for companies United Technologies (UTX), Caterpillar (CAT) and Freeport McMoRan (FCX). Fourth, the woes at Intel (INTC) prove weakness in PCs, not weakness in technology overall, which is why Apple (AAPL), a stock he owns for his charitable trust,
Next Week's Game PlanAll eyes will be on the Federal Reserve next week, Cramer told viewers as he laid out his "Game Plan" for next week's trading. Cramer said the Fed's meeting on Wednesday and Thursday will be key for the direction of the markets. But beyond the Fed, Cramer said the week begins with Chinese economic data on Sunday. If these results are disappointing and with no interest-rate cuts, the sellers will be out on Monday and investors can look for their Friday gains to disappear.
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