NEW YORK (
) -- Jim Cramer is searching for a reason as to why the market is surging on Thursday, but admitted during Thursday's "Stop Trading!" segment on CNBC that he can't find a real catalyst.
On one hand, it's a commodity rally, Cramer said. Then again, he said there's also optimism behind China.
On that note, Cramer said he would be a buyer of
heading into the Chinese New Year; with two weeks off, Cramer said, investors could see some people going to Macau to gamble, and Wynn would stand to be a primary beneficiary of that.
Still, on the whole, Cramer said he feels the market is reacting to too few stimuli.
Case in point: On Wednesday,
raised its dividend. While Cramer understands why the stock is up, it wasn't that big of a raise.
"The daily moves are so exacerbated by commodity plays," Cramer said of the 3M move.
, for example, reported unbelievable fourth-quarter numbers at the end of January and the market did nothing. While today there is a move in gold, and it is up more than 4%.
Meanwhile, on the show, Cramer said that he is a fan of
, which got a $4.7 billion takeover bid from
Cramer says the utilities sector is an interesting trade, and a takeover offer makes Allegheny Energy stock even more attractive.
The merger would create a power company with about $16 billion in annual revenue and $1.4 billion in annual earnings. It would also result in ten regulated electric distribution companies providing electric service to more than 6 million customers in Pennsylvania, Ohio, Maryland, New Jersey, New York, Virginia and West Virginia.
Allegheny shares are up 10.5% to at $23.22 in midday Thursday trading on the news, while FirstEnergy shares were down 6.0% to at $38.97.
Meanwhile, everyone has been waiting for
to monetize its brands, which they did today with DieHard, and the market yawns, Cramer said.
Not only does Sears have a better balance sheet than investors realize, it's also a housing play, Cramer said. "People are not extrapolating
-- Reported by Jeanine Poggi in New York.
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