NEW YORK (TheStreet) -- "In all the years that I've been following the employment numbers, I've never seen a range [of estimates] this wide," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said Thursday.
Cramer said he's got "smart people" telling him the February nonfarm payrolls report on Friday will come in at 50,000 jobs, while other "smart people" are telling him it will be 350,000 jobs.
It's unusual for the range to be this wide. However, anything in the middle will probably be viewed as "ho-hum" by investors, who will be happy to finally have this unpredictable data point out of the way, Cramer said.
Many people are suspicious of the stock market because it continues to make new highs while economic data are starting to look a little less optimistic. However, as long as the 10-year Treasury yield stays below 3%, the rally in equities should continue, he said.
-- Written by Bret Kenwell in Petoskey, Mich.Follow @BretKenwell
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV