Jim Cramer takes a look at the markets.
He weighed in on Facebook, which is Real Money’s stock of the day, the OPEC meeting and the jobs report.
Facebook’s Morale Issues
Facebook has been making headlines all week after Parliament seized emails from Facebook. The documents were then released on Thursday, Dec. 6.
Real Money’s Kevin Curran is following Facebook for Real Money.
Curran reported earlier on Friday that, “the problems within the company’s ranks could be just as damning as data breaches.”
Earlier this week, the Menlo Park, California headquartered social media behemoth fell to seventh place on employment site Glassdoor’s annual ranking of employers for 2019, knocking the company from the top spot it held in 2018. Meanwhile, a report from the Wall Street Journal highlighted an overall more pessimistic outlook for the company.
Cramer said that he believes the issues with the company cannot be solved until the morale issue is solved. He told TheStreet that Facebook “needs to fire Sheryl Sandberg.”
The OPEC Agreement
Members of OPEC and non-members agreed to cut oil production by 1.2 million barrels a day, for six months starting in January.
Jim Cramer breaks down his thoughts about the oil sector after the OPEC meeting.
Jobs Report
A report from the Labor Department on Friday showed that non-farm payrolls rose by 155,000 in November, down from 250,000 in the prior month. Economists had projected a gain of 195,000 jobs.
Jim Cramer explained why he wasn’t surprised when the report came out weaker than expected.
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