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CNBC’s Jim Cramer said Friday that investors shouldn’t read too much into uneventful unemployment data, arguing that a lack of surprises on the labor front is actually giving the market room to reveal the real story: a broad-based rally spreading well beyond last year’s winners.
“When you get an employment report that’s basically uneventful, it allows you to focus on what’s really happening in the market,” Cramer said.
In his view, money is rotating aggressively into overlooked corners of the market, with data storage stocks among the biggest beneficiaries. Companies tied to that theme have delivered what he called breathtaking rallies, even as some of the market’s former leaders struggle to gain traction.
