Jim Cramer's Best Blogs

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Dow Looks Safe From Credit, Food Inflation

Originally published on Friday, April 25, at 9:25 a.m.

I want to be a bear! Housing prices down huge. Food prices up huge. Employment down huge. Gasoline up huge.

But let me ask you, what happens if something goes right? It's obvious that everything is going wrong, and the usual refrain is that the market must be killed because of it.

However, you just need to go through the Dow Jones Industrial Average to grasp the lack of import there is to these issues. Pfizer (PFE Quote - Cramer on PFE - Stock Picks)? Merck (MRK Quote - Cramer on MRK - Stock Picks)? Johnson & Johnson (JNJ Quote - Cramer on JNJ - Stock Picks), AT&T (T Quote - Cramer on T - Stock Picks)? Wal-Mart (WMT Quote - Cramer on WMT - Stock Picks)? Merrill upgrades today.

They all do fine in this environment. American Express (AXP Quote - Cramer on AXP - Stock Picks)? Fine short until yesterday. United Technologies (UTX Quote - Cramer on UTX - Stock Picks) and Caterpillar (CAT Quote - Cramer on CAT - Stock Picks) already reported terrific quarters in this environment. Boeing (BA Quote - Cramer on BA - Stock Picks) did, too. And the outlook for all three is actually better than it was before because of secular concerns going their way and a terrific weak-dollar story. Same with McDonald's (MCD Quote - Cramer on MCD - Stock Picks), which is doing so well internationally that we have a "who cares" domestic story.

IBM (IBM Quote - Cramer on IBM - Stock Picks) blew numbers away and is very cheap. Don't look to Chevron (CVX Quote - Cramer on CVX - Stock Picks) or Exxon (XOM Quote - Cramer on XOM - Stock Picks) for weakness in this environment. Nor Du Pont (DD Quote - Cramer on DD - Stock Picks), which is propounding insulation and seeds, two sweet spots. (This is Day Three of the oil decline, which points to Monday buying.)

I don't expect Verizon (VZ Quote - Cramer on VZ - Stock Picks) to be that deviant from AT&T. Coke (KO Quote - Cramer on KO - Stock Picks) was fine, and I don't expect Procter (PG Quote - Cramer on PG - Stock Picks) to be any worse. If we get a turn, Home Depot (HD Quote - Cramer on HD - Stock Picks) is the No. 1 name.

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