TheStreet’s Jim Cramer is watching The University of Michigan’s Consumer Sentiment survey on Friday. The report is set to be released at 10a.m. Eastern. Cramer says the findings will be very important because ‘the Fed is going to tighten at a time when the unemployment claims are going up and maybe people are getting a little glum. Be careful. That is not the recipe for what you need if they tighten your interest rates. They shouldn’t do it maybe.’ Consumer sentiment is expected to improve a little bit to 92.0 in the flash reading for December. For November, sentiment fell sharply to a final reading of 91.3. Consumer sentiment is directly related to consumer spending and consumer spending accounts for more than two-thirds of the economy.
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