Cramer says “historical stocks” based on very remote profits have problems

CNBC’s Jim Cramer said Friday’s investors should stay away from so-called historical stocks that are years away from profitability due to rising bond yields.

Equity investors are struggling with the implications of higher bond yields, Cramer told “Squawk Box” and “that means the paradigm is that we need to go down and down on stocks that some big fund managers like. , which are these company shares that are based on 2030 numbers “.

Cramer’s comments came shortly after the release of the February job report, which showed strong gains in the job market and helped raise Treasury yields to 10 years to a new one-year high. The Dow Jones Industrial Average also jumped after job data, a day after strong sales on Wall Street.