This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cramer: Yes, Europe Is Turning

Editor's Note: This article was originally published at 7:15 a.m. EDT on Real Money on July 22. To see Jim Cramer's latest commentary as it's published, sign up for a free trial of Real Money.

NEW YORK ( Real Money) -- How many companies have to say that Europe has bottomed or has turned up before people realize the turn is occurring?

If you were on last week's conference calls, I think the answer would have been obvious: The turn is at hand, and it could be a big one -- so big that it might serve as a substantial reason that the internationally oriented stocks simply aren't coming in.

Because, after last week's calls, they shouldn't. The evidence is that compelling.

At this point, so many people are skeptical about Europe and any prospective turn that it is almost impossible to get through the din of negativity. It is true that, for years, Europe was doing the wrong thing. It raised rates twice; it didn't adopt aggressive easing; and it went for austerity, except when it came to expensive subsidizing of uneconomic renewable energy.

But that's changed. The European Union is now as aggressive as the U.S. Federal Reserve. Although austerity is still the theory of the day, there are so many signs of improvement that the easing is clearly trumping the austerity measures. Plus, the borrowing costs have come so far down, and the banking situation is so much improved -- even as we scoff at it -- and the political situation so much more solid, that it is a natural that something good could be happening.

The shock is that the good could be so widespread.

But the skeptics demand more. They think the aggregate data are soft enough to suggest that nothing good is happening. I personally don't give a darn about the aggregate data. It is something for the economists to argue about. Plus, euro-hating is so convenient for the angry right-wing folks in the media that they will be determined to dismiss any turn. That's because these people don't care about trying to help you make money -- this is not top of mind, usually because they have made theirs already.

So, in the interest of empiricism, let's go over what was said about Europe by the big international companies that reported last week.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Real Money
Try it NOW

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Our Tweets

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs