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NEW YORK (TheStreet) -- The markets have finally cooked up a recipe worth buying, Jim Cramer told his Mad Money viewers Thursday, and it includes a double helping of value and no international spices.
Investors breathed a collective sigh of relief when the Federal Reserve released its meeting minutes from September, minutes that showed that the vote on raising interest rates wasn't even close, and the Fed was very concerned with global affairs, after all. With that worry behind it for the foreseeable future, Cramer said it was off to the races for stocks.
There was no shortage of bull markets, Cramer noted, including in oil, which again posted gains. Consumer packaged goods also soared because their 3% yields are looking pretty attractive.
The American consumer appears to be spending more, which led to rallies in Costco (COST - Get Report) , up 2.5%, and L Brands (LB - Get Report) , up 1.9%. Even the industrials, led by Honeywell (HON - Get Report) and Boeing (BA - Get Report) , were up on the day.
Executive Decision: Al Monaco
For his "Executive Decision" segment, Cramer sat down with Al Monaco, president and CEO of Enbridge (ENB) , the oil and gas pipeline operator with a 4.3% yield and shares that have rallied 9% over the past five days.
Monaco said the recent rally in the stock is a testament to the company's resiliency and superior business model, while the weakness that preceded it was merely indiscriminate selling by uninformed investors.
Enbridge has tremendous assets, Monaco noted, and is connected to all the right places and all the best markets. The company continues to be among the lowest-cost providers.
Monaco also commented on Cheniere Energy (LNG) getting ready to ramp up our country's first natural gas export terminal. He said it's amazing that our country has unparalleled resources, yet until now hasn't had a connection to the global marketplace for natural gas.
Cramer called Enbridge the most reliable producer of higher distributions for its shareholders he has ever seen.