NEW YORK (TheStreet) -- On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, took a look at the affect that June's nonfarm payrolls results would have on stocks.
Specifically, Cramer is looking towards the financial sector, which is moving higher along with Treasury rates.
When rates increase, the banks become more profitable, he reasoned. Cramer says regional banks should do very well as rates increase.
Dicker/Link: Linn, Noble Energy Are Among the Stock Picks in the Energy Patch
Royal Gold Is a Precious Metals Royalty Play, a 'Streaming' Buy
China's Sinopec Oil Drops Spinoff Hints as Rumor Mill Churns
Chevron, ConocoPhilips Oil Stocks' Profits Rise With Call Options
Overall, the financial sector could rally into earnings, which start next Friday with Wells Fargo (WFC - Get Report). "Don't outthink it -- buy the banks," he said.
Cramer likes Bank of America (BAC - Get Report) going forward, saying, "If there's no screwup, this is best in show."
-- Written by Bret Kenwell in Petoskey, Mich.