Investors may be ‘grasping at straws’

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CNBC’s Jim Cramer on Thursday suggested that Wall Street investors could be “grasping at straws” after stocks rallied, despite both welcome and unwelcome information.

“This market’s so desperate for good news that buyers are willing to grasp even the thinnest of reeds, which is why the averages were able to roar today,” the “Mad Money” host said.

The roughly 2% gains in the major stock averages were fueled by a big rally in the oil market, which has a heavy hand on other financial markets. That, however, was met by a surprising report on weekly unemployment filings.

“We now live

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