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Cramer's Morning Take: U.S. Jobs 3/8/24

Jim and Jeff react to the February jobs reports and discuss AI revenue for this semiconductor stock. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake
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Duration:
4m
Broadcast on:
08 Mar 2024
Audio Format:
mp3

Jim and Jeff react to the February jobs reports and discuss AI revenue for this semiconductor stock. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake  

CNBC Investing Club Disclaimer

At Morgan Stanley, old-school hard work meets bold new thinking. At 88 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities, and relentlessly working with you to make them real. Old-school grit, new world ideas, Morgan Stanley. To learn more, visit morganstandley.com/yus, and investing involves risk, Morgan Stanley Smith Barney, LLC. Jim Kramer here to share with you a sample of my take on the market from today's CBC Investing Club morning meeting. We start out with an 8-30 number, Jeff, that looks -- I'm tired of the term "coldly walks," because what really happened is the number they cut that was poorly tabulated in the previous quarter. We would never tolerate that in a year of artificial intelligence and generative -- and, by the way, accelerated computing -- because what happened is that January would turn out to be far weaker, and so they mixed them together and it turns out to be other than government jobs, it really wasn't a lot of job work. We've heard from a lot of companies that January was a soft month, part of it due to the weather. Unemployment rate takes up -- well, it moves up to 3.9 from 3.7. I think the Fed is keeping an eye on that. They have said that now that inflation has gotten at least a little bit more under control, they're keeping an eye on the other side of their dilemma as well. But, of course, 4% then suddenly becomes an election issue. They don't want to be an election issue. Obviously, Jay Palace studiously, if you remember from during the Trump period, he's the least political Fed chairman I've ever seen because he was faced with the most political president history. But I do say that there was a lot to like about the number because what it did was say maybe there could be a rate hike back in -- put me back on the table, some of it. Yeah, we'll see. Well, I mean, that's what I'm saying on this, because Mike Santoli did this excellent report this morning about how the semis were correlated with interest rates that I want to congratulate him for pointing out a pattern that people have been oblivious to. Well, and there you go. And we're seeing it today as well, right? On a march to almost 1,000 dollars per share. Invitation with the 20-year -- I mean, it's a little crazy. Yeah. But I would point out that you and I both know that Nvidia is crucial to why Broadcom could have a good quarter or Marvell. David had excellent analysis about the way the impenetrable notion of the financials of both those companies. Yes. But I come back and say they are connected with AI. And Broadcom did have a good quarter. We should talk about it. Because cash flow can't lie. Yeah. Join the CMC Investing Club with Jim Kramer. Catch my member-exclusive morning minis every day at 10-20 a.m. Visit cmbc.com/morningtake to become a member today. That's one word, morning take. All opinions expressed by Jim Kramer on this podcast and in connection with the CNBC investing club are solely Kramer's opinions and do not reflect the opinions of CNBC, NBC, Universal, or their parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, internet, or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Kramer. The opinions offered in connection with this podcast and the CNBC investing club are not an attempt to induce any particular trading behavior, investment, or strategy. You should be aware of the risk of loss in following any strategy or investment discussed in the content from Kramer. To view the full CNBC investing club disclaimer, please visit cmbc.com/investingclubdisclaimer. What's on the horizon for financial markets? At PJM, it's a question that over 1,400 investment professionals relentlessly research in pursuit of your long-term goals. Specialized across asset classes but united in collaboration. Our teams provide global and local expertise. Our investments shake tomorrow, today. Pursue your tomorrow with PJM, a leading global asset manager. You