"If the Europeans cut rates, this rally's sustainable," Jim Cramer said on Wednesday's "Stop Trading!" segment on CNBC, "We need Europe. We've already done everything on our end."

Cramer said that the U.S. is going "everything right" and that now Europe and China need to cut rates.

Cramer said that

Caterpillar

(CAT) - Get Report

had a bad quarter, but when minerals and oil are going up, that's good for the company. "That gives us somewhat of an inflation bias that I want," he said. "We've been dealing with deflation.

At the time of publication, Cramer had no positions in stocks mentioned.

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