Stocks rise on jobs data that Cramer says is 'going the right way'

U.S. stocks rose on Friday, putting them on course for their fifth consecutive day of gains. The S & P 500 gained 0.8% while the Nasdaq Composite grew 0.94%. The Labor Department's employment report for October showed that hiring had slowed. This boosted stocks. Nonfarm payrolls grew by only 150,000 in October, wage growth was down and unemployment increased to 3.9%. Jim Cramer stated Friday that he would like to see this number go in the right direction for employment. This is the latest indication that inflation is slowing down, which could lead the Federal Reserve to stop raising interest rates. Apple, a club holding company, reported a 1% drop in its total revenue for the fiscal fourth quarter on Thursday. Importantly, iPhone and service revenues exceeded analyst expectations. The total earnings per share increased by 13% annually. Jim said that Club name Starbucks' (SBUX), which reported its fiscal fourth quarter results on Thursday, showed the coffee maker was "hitting all cylinders." The Club companies will be busy next week with the release of their quarterly results. Coterra Energy reports Monday, after the closing bell. Production and capital expenditures are a focus. Emerson Electric (EMR), which reports before the bell on Tuesday, is expected to provide investors with initial guidance for 2024. Walt Disney (DIS), releases its earnings report on Wednesday after the closing bell. We'll be interested in an update regarding the integration of streaming platform Hulu with Disney+.
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Wynn Resorts is expected to report on Thursday, after the closing bell. The market expects strong revenue and margins for its Macao operations. Click here to see the full list of stocks that Jim Cramer owns. Subscribers to CNBC Club will receive an alert when Jim Cramer makes a trading decision. Jim Cramer waits for 45 minutes after he sends a trade notification before he buys or sells a stock from his charitable trust portfolio. Jim will wait 72 hours to execute a trade if he has discussed a stock with CNBC TV. The above INVESTING Club information is subject to our Terms and Conditions, Privacy Policy, as well as our Disclaimer. A FIDUCIARY DUTY OR OBLIGATION DOES NOT EXIST OR IS CREATED BY YOUR RECEIPT of any information provided in connection with the INVESTING Club. A SPECIFIC RESULT OR PROFIT IS NOT GUARANTEED.