ADP Shows People Are Coming Back to Work: Jim Cramer
It's jobs week.
ADP released its private payrolls on Wednesday, June 3.
Data on U.S. private payrolls showed fewer job losses than expected. The U.S. private sector shed 2.76 million jobs in May, according to ADP, compared with expectations of 8.66 million.
And markets are once again, for the third day in a row, up.
On Tuesday, Wall Street extended gains for the third consecutive session. The S&P 500 rose 0.82% and the Dow Jones Industrial Average finished at 25,742, a gain of 267 points, or 1.05%.
And on Wednesday, investors once again shook off mass protests and riots across the United States over the killing of George Floyd by a Minneapolis police officer and the testy relations between Washington and Beijing that some fear could derail the trade agreement between the world's two largest economies.
But, with the jobs report on Friday, what should investors take away from ADP?
Jim Cramer says, "People are coming back to work, and starting to believe that the illness is an illness that's deathly for the elderly..."
Watch More of the Latest Videos on TheStreet and Jim Cramer
- Jim Cramer: Investors Should Weigh Facebook Employee Dissatisfaction
- Jim Cramer: If You Believe This Is Beginning of Upheaval, It's Time to Sell
- Jim Cramer: Advice for Investors Learning About the Stock Market
- TheStreet Explains: What Is Value Versus Growth in Stocks?
- What Wall Street Can Do for Main Street Amid Civil Unrest