The latest jobs report showed just +22,000 payroll additions and a high unemployment rate, challenging the belief that bad economic news is good for stocks. Despite high rate-cut odds, the market pulled back, leading veteran analyst Jim Cramer to question the market mantra.

The S&P 500 dipped after hitting record highs, with year-to-date gains near 10%, concentrated in a few stocks and valuations remaining high. Markets anticipate a 0.25% rate cut in September, but with a softer growth outlook.

Jim Cramer warns that weak jobs data may not be enough for Fed cuts to help, signaling a potential shift in market dynamics. The Dow fell over 200 points, driven by concerns over corporate earnings and credit tightening.

Key figures from the news include nonfarm payrolls at +22,000, unemployment at 4.3%, and S&P 500 declining 0.3%. Existing-home sales stayed weak, hovering near multi-decade lows. This story was originally reported by TheStreet on Sep 6, 2025.

Read more at Yahoo Finance: Jim Cramer flips the playbook on the S&P 500