Cramer Warns 1-Day Election Rally May Fade as Payrolls Loom
Updated
Updated · CNBC · Nov 4
Cramer Warns 1-Day Election Rally May Fade as Payrolls Loom
1 articles · Updated · CNBC · Nov 4
Summary
Wednesday’s post-midterm rally may be built on guesswork, Jim Cramer said, warning that Friday’s nonfarm payrolls report could erase much of the move.
Democrats’ decisive win drove a sharp split inside tech: Apple hit an all-time high, while Microsoft and Amazon rose on bets a slower AI buildout would ease data-center and memory-cost pressures.
Nvidia, AMD and data-center developers including CoreWeave, Nebius and Iren fell as investors reassessed companies tied to continued AI infrastructure spending.
Cramer argued the election did not overturn the business cycle, echoing JPMorgan’s Michael Cembalest that markets will still be driven by 10-year rates, Fed policy, commodity prices, profits and AI investment over the next 12 months.