Stocks were on the rise in intraday trading on Thursday in what Jim Cramer called a "snapback rally."
And adding to inflation pressure, the producer prices in the U.S. in April increased 0.6% from March. Inflation concerns have been the root cause for the poor performance of the major indices this week.
Meanwhile, the number of Americans filing for first-time unemployment benefits, meanwhile, declined by 34,000 last week to a pandemic low of 473,000 as employers looked to add workers lost during the virus lockdowns.
Recap TheStreet Live: Everything Jim Cramer Is Watching Thursday