Jim Cramer and ActionAlertsPLUS Research Analyst, Zev Fima, were live from the NYSE to discuss the nonfarm payrolls report, the Federal Reserve, China and Lululemon's earnings beat.

They also gave some takeaways for fantasy football from yesterdays Bears-Packers game.

Nonfarm Payrolls Report

Investors got some disappointing news to start the trading day with the U.S. economy adding far fewer jobs in the month of August than Wall Street expected.

The U.S. added 130,000 nonfarm payrolls vs. 160,000 expected, which kept the unemployment rate at 3.7% as expected. Meanwhile, July's employment figure was revised down to 159,000 from 164,000.

It's not all bad though , as Jim Cramer pointed out:

"I think that Larry Kudlow, The Chief Economic Advisor came up with some very good figures about job creation that are really being missed by the labor number. The job creation being created, I think as he agreed with me by the Shopify's, by the Etsy's, by the Amazon's...See, the new economy is an economy that is a shared economy, is an economy that is very much of an enterprise economy and it's not being picked up because it's not traditional ADP number, not traditional labor number."

Lululemon Earnings Beat

Shares of retailer Lululemon (LULU - Get Report) ,RealMoney's stock of the day, surged following its earnings release after the closing bell on Thursday. The stock opened at an all-time high today after topping analyst sales and earnings expectations while also raising guidance.

Lululemon said earnings for the three months ending on August 4, the company's fiscal second quarter, came in at 96 cents per share, up 35.2% from the same period last year and firmly ahead of the Street consensus forecast of 89 cents per share. Group revenues, the company said, rose 22% to $883 million, again topping analysts' forecasts of a $842.4 million tally, while same-store sales rose by a forecast-busting 17%.

Jim Cramer is bullish on the stock even at all time highs:


"Everybody says they're an experiential retailer. Well Lulu is an experiential retailer and that's because they have created an environment of wellness and athletic and mindfulness...What people don't understand is it allows them to be full price. Macy's is half price, Lulu is full price and they don't talk about that on the conference call. And I wish they had, I wish someone had said to them, just point blank aren't all these things the way to be able to keep prices high. But that's why Lulu does so well. They've created an environment where you've got double digit, actually high teen growth, and full price. And that's a combination of just keep buying the stock, keep buying Lulu even up here."

Bull Market Fantasy Football Friday!

The NFL kicked off its 100th season on Thursday with the Green Bay Packers defeating the Chicago Bears 10-3.

Jim Cramer has Bears running back David Montgomery on his fantasy team. Watch the video above to see why Jim is already concerned.

ICYMI: TheStreet and Sports Illustrated Fantasy recently unveiled Bull Market Fantasy with Jim Cramer site to cover all things fantasy sports. When you're finished watching Jim's show on TheStreet, be sure to check out his bi-weekly show Bull Market Live. Click here.

Watch. Damien Williams Fantasy Football Stock Sinks With LeSean McCoy On The Roster