Market rallies despite mixed data
Despite mixed economic data, the stock market has managed to rip higher with the Dow Jones industrial average and S&P 500 index setting fresh highs, Jim Cramer said Thursday.
To illustrate his point, the "Mad Money" host referenced the myriad of mixed data released Thursday that didn't seem to damper the stock market rally.
To start, jobless claims were stronger-than-expected.
Meantime, consumer confidence is at a six-year high, according to the Michigan consumer sentiment survey. The Bloomberg consumer sentiment index, however, indicated consumer confidence was at a five month low.
Finally, the Philadelphia Federal Reserve Bank and Empire State Fed surveys released Thursday showed some gains in manufacturing, but also reported manufacturing orders were among the weakest of the leading indicators.
"Mixed data, like mixed drinks, can cause a real high. Is either sustainable? Wrong question," Cramer said. "By the time you've figured it out, the party's over. Should it be like this? Again, wrong question.
"The point is that mixed data produces the best results you can get in the stock market, so why fight the tape when you can rack up terrific gains like the ones we had today?" Cramer asked.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? firstname.lastname@example.org
Questions, comments, suggestions for the "Mad Money" website? email@example.com