Stocks rose Thursday after President Joe Biden announced a $2.25 trillion infrastructure spending plan and traders looked to Friday’s report on the U.S. jobs market.
Key jobs and manufacturing data will be released on Friday when the March employment report comes out.
New jobless claims jumped higher last week, underscoring the uneven labor market rebound in the final months of the waning coronavirus pandemic.
Cramer said he would like to see wages stabilize because wage inflation coupled with other inflation will make interest rates spike. “And that’ll cause a lot of people to lose a lot of money. Keep some cash on hand,” he said.
Lululemon: Buy Or Sell?
High-end athleisure apparel company Lululemon topped earnings estimates but reported mixed 2021 guidance earlier this week.
The Vancouver company reported fourth-quarter earnings of $2.58 a share on revenue that rose 24% to $1.7 billion. Analysts were expecting Lululemon to report earnings of $2.49 a share on revenue of $1.66 billion
Cramer said to buy Lululemon because the company had a good quarter despite its physical stores not doing as well as he’d expected. “I’m not worried about Lulu at all, and I would buy it right here,” he said.
Fitness Stock Picks
Cramer said he likes Planet Fitness (PLNT) – Get Report among fitness stock picks and added that Peloton (PTON) – Get Report could be good at a lower level. “We have all learned that there’s going to be more pandemics. And a good natural defense against a pandemic is how strong you are and whether you’re in shape,” Cramer said.
None of the stock mentioned in this article are holdings in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer adds or removes stocks from his portfolio? Learn more now.