This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jim Cramer Quick Take: ADP Figures Do Not Predict Jobs Number

NEW YORK (TheStreet) -- February's ADP employment report was released Wednesday and was once again underwhelming. Don't use the number to predict Friday's nonfarm payrolls report, asserted TheStreet's Jim Cramer, co-portfolio manager of the Action Alerts PLUS portfolio

"Stop doing it," he said of investors who predict Friday's nonfarm payroll results with Wednesday's ADP employment report. "It's not indicative of anything, it's not predictive." 

Although ADP's report failed to top economists' expectations, Cramer doesn't believe Friday's report will be that great either. 

It's worrisome if the nonfarm payrolls result misses expectations because it would mark the third consecutive month of disappointing results. In his new book, Get Rich Carefully, Cramer warns that this type of event starts to show a pattern of economic behavior that concerns him.

However, there is one caveat in this case: The weather. It isn't just an excuse, it's actually been pretty bad this year.

The weather was terrible leading up to Valentine's Day and towards the end of last month. As a result, it will likely weigh on the results. "I don't expect too much out of the number," Cramer concluded.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%
YHOO $44.45 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs