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Jim Cramer's Stop Trading: Surviving Rate Sickness

Jim Cramer's Stop Trading: Surviving Rate Sickness

Cramer says well-run investment banks aren't going to be hurt.

Cramer says well-run investment banks aren't going to be hurt.

Interest rates are headed higher but that won't hurt certain well-run investment banks, Jim Cramer said on

CNBC's

"Stop Trading!" segment Friday.

"Rates are obviously going higher -- what's the

Fed

going to do? We have a runaway economy," Cramer said. Friday's employment report showing a 211,000-job addition to payrolls was bad news, Cramer said. "The perception that it was Goldilocks was, frankly, stupid."

Still, companies like

Goldman Sachs

(GS) - Get Free Report

,

Bear Stearns

(BSC)

and

Lehman

undefined

should be OK. "The financials I like are totally in control. I believe they are making a fairly large bet that rates are going higher," Cramer said.

Cramer also said

Juniper

(JNPR) - Get Free Report

should follow

Cisco

(CSCO) - Get Free Report

higher. The stock "is so hated you almost have to feel like they're doing something wrong, but they're not."

Cramer said

National Oilwell

(NOV) - Get Free Report

is another solid stock in a hated sector. As for

Research in Motion

(RIMM)

, the stock is "done" after management said business looks slow in the near term.

Cramer praised

ABB

(ABB) - Get Free Report

, which he called "an infrastructure play that people want to get behind."

At the time of publication, Cramer owned ABB in a charitable trust.

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