NEW YORK ( TheStreet) -- While the August jobs report wasn't amazing, it would have been enough to propel markets higher, TheStreet's Jim Cramer told Debra Borchardt Friday. However, the uncertainly and tension of whether there will be a U.S. strike on Syria continue to heighten.
Cramer said President Obama looks uncertain as to what he's going to do -- something the markets hate -- especially as many Americans, roughly 80%, oppose military intervention.
With Europe recovering and China on fire, Friday's nonfarm payrolls report would have been enough to really kick the markets into rally mode, he went on to say.
It'll be very difficult for the Federal Reserve to taper its bond buying at this point. While the labor market and economy have been recovering, the pace has been too slow.Cramer added that at the same time, some are starting to question whether the Fed's stimulus plan is really helping at this point, considering the labor market is only improving at a modest rate. There is one bright spot in all of this, however: falling rates. As interest rates fall, so do mortgage rates, which should help demand in the all-important housing industry, Cramer said. Cramer has raised a lot of cash in the Action Alerts PLUS portfolio, citing typical weakness this time of year. Health care and pharmaceuticals have strong and that's why Cramer likes Johnson & Johnson (JNJ), a portfolio holding. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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