The Federal Reserve was expected to keep interest rates unchanged when it made it's 2 pm announcement.
On the job front, the U.S. private sector in April added 204,000 jobs, according to ADP, but below the March figure.
Jim Cramer: Here's the Word Apple People Haven't Even Thought of Yet - Members!
"...the word that the Apple people haven't even thought of yet, members. They haven't thought of it because I believe they never really thought of themselves as a razor - razor blade model business because they are technologists at heart, as they must be," observes TheStreet's Jim Cramer.
"But in a world where there is almost no brand loyalty - go listen to those pathetic consumer product group company calls, they are painful - we have found one brand that has staying power, the Apple brand, with 99% satisfaction," Cramer says.
Real Money columnist Jonathan Heller writes that, "Life is certainly interesting in this bizarro market world where up is down and down is up, but that can provide opportunity to exploit market inefficiencies."
Exploiting Market Inefficiencies
Smaller Companies Are Often Some of the Best Trading Vehicles
"The challenge of this market is that the upward moves have not been well sustained. If you are too aggressive chasing the chances of being caught in a reversal, they're higher than usual," according to Real Money columnist James DePorre.
DePorre points out that "there are quite a few smaller companies that will report in the next couple weeks and they are often some of the best trading vehicles."
Join Jim Cramer May 5 for TheStreet's Boot Camp for Investors
Meet Jim Cramer and more than a dozen top market experts on Saturday, May 5, in New York for How to Diversify Your Portfolio: A Boot Camp for Investors.
- An exclusive market update from Jim.
- A keynote interview between Jim and PayPal CEO Dan Schulman.
- Break-out panels with top market experts like Tony Dwyer, chief market strategist at Canaccord Genuity; Mike Hanson, senior vice president of research at Fisher Investments; and Peter Hug, global trading director with Kitco Metals.
- Roundtable discussions with TheStreet's Carley Garner, Stephen "Sarge" Guilfoyle, Bob Lang and other columnists.
All attendees will also receive a free one-year subscription to our newest premium Web site, Retirement Daily (a $99 value).
Where: The Convene Center, 117 W. 46th St., New York
When: Saturday, May 5, 8:55 a.m.-2:45 p.m.
Price: $199. Includes a free one-year subscription to Retirement Daily (a $99 value)