NEW YORK (TheStreet) -- "Those who walked out on the markets yesterday were the big losers today," Jim Cramer told his "Mad Money" TV show viewers Thursday. He said that the symphony of stocks sounded a lot better today and that's what a bull market is all about.
Cramer said there were a number of big bull themes at work today, the most important of which was encouraging jobless claims data. Cramer said jobs drive the stock market and creating new jobs is the single most important issue facing the markets right now. "We need more private sector jobs," he said, and any news to that end will send the markets higher.Cramer also noted that auto sales are another big market theme. After positive sales from General Motors (GM), Cramer said "what's good for GM is good for America." He told investors to forget about the company's earnings for the time being. What matters now is that sales are building. Cramer's third big market theme, housing. He said the rise in new housing starts is bullish for the entire market, adding more fuel to the fire of the home builders, home improvement plays and construction-oriented sectors. Finally, Cramer acknowledged that Europe, particularly the continent's successes, is still a major theme for the markets. He said the programs that have been put into place are working, and interest rates and bond yields are falling as a result. As a final thought, Cramer also added that technology remains strong. He said that while he's worried about Apple's (AAPL)patent issues in China, this stock which he owns for his charitable trust, Action Alerts PLUS, remains a buy, as does a handful of other new and old tech names.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV