Jim Cramer said Thursday that he wo n't be surprised if the March jobs report is soft.
Yesterday, I suggested that the real anti-trend rally in tech could last a few more days before it ebbs, the Mad Money host said. So far this forecast remains, but without a cool employment number tomorrow, I expect the reopening stocks -- think the banks and industrials- to come back into vogue on the Wall Street fashion show.
While the market is closed on Good Friday, Labor Department is planning to release March hiring data.
Cramer's comments come after a banner day for the S& P 500, which crossed over the 4,000 mark for the first time during the trading day.
Stocks managed to rise after the Labor Department released a disappointing weekly jobless claim number in the morning. The department reported that 719,000 workers first-time claims for jobless benefits were filed last week, much higher than economists had predicted.
Welcome back to Bizarro Wall Street, where bad news is good news, at least when it comes to the economy, said the Mad Money host.
Investors who want to see the stock prices rise are going to want strong earnings reports from the last quarter and more non-inflationary news that will discourage the Federal Reserve from raising interest rates, said Cramer.
Cramer gave his game plan for the week ahead, earnings-per share projections are based on FactSet estimates: