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Expect more record market highs

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The stock market has more evidence to quell fears that a recession could be looming, CNBC’s Jim Cramer said Friday.

The major averages all surged about 1% during the session, the same day the October jobs report showed that companies added 128,000 new payrolls. That topped the 75,000 that economists had estimated.

The S&P 500 and Nasdaq Composite set record closes at 3,066.91 and 8,386.40, respectively, to end the trading week.

The U.S. consumer economy remains strong and the weaker manufacturing economy received a boost from the Federal Reserve when it issued its third interest rate cut this year, the “Mad Money” host said.

“That’s exactly what happened this week, which is why today’s…



Source cnbc.com

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