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When you look at Tuesday's market action, it's clear what matters most, Jim Cramer told his Mad Money viewers. No, it's not earnings, or the Federal Reserve. It's China. Last night's calming words from Chinese President Xi Jinping took the market right back to 2017, before the words "tariff" and "trade war" loomed in the investing conversation.

Xi's comments on a more open China sent shares of Boeing (BA) - Get The Boeing Company Report and Caterpillar (CAT) - Get Caterpillar Inc. Report up 3.8% and 3.5% while Apple (AAPL) - Get Apple Inc. Report , an Action Alerts PLUS holding, rose by 1.8%.

Beyond China, the markets also rewarded Facebook (FB) - Get Meta Platforms Inc. Report with a gain of 4.5% as CEO Mark Zuckerberg answered questions before Congress in a coherent and respectful manner. Facebook allowed the other FANG stocks to rally, with Amazon (AMZN) - Get Inc. Report and Netflix (NFLX) - Get Netflix Inc. Report both ending the day higher, along with most of Cramer's "cloud kings" like Workday (WDAY) - Get Workday Inc. Report , up 2.6%, and Red Hat (RHT) - Get Red Hat, Inc. Report jumping 3.5%.

Cramer reminded viewers that earnings season kicks off on Friday and if things remain calm in Washington, those earnings could once again matter to the markets.

But what should investors do with the stocks of Facebook, Amazon and Tesla (TSLA) - Get Tesla Inc. Report , three market darlings that fell out of favor this month? Cramer weighed in with his opinions.

Cramer said President Trump should fire whoever is giving him the misinformation about Amazon. The company does indeed pay taxes, is a profit center for the U.S. Postal Service, and gives mom-and-pop retailers a global platform on which to sell their wares.

That makes the stock a buy in Cramer's book, especially given that there are limited ways Trump could hurt the company even if he wanted to.

Then there's Tesla, which suffered a one-two punch of a fatal collision involving the company's autopilot feature, followed by questions about the company's finances. Cramer said this stock will be slammed hard if the company does need to raise additional money, something that CEO Elon Musk says is not going to happen. But that makes owning Tesla too risky in Cramer's eyes, even if he, like many, adores the company's products.

Finally there's Facebook, which has been in the hot seat ever since data from millions of users fell into the hands of a third party. Cramer said the stock is a bargain at 22 times earnings with a 26% growth rate, but investors shouldn't be quick to buy in if they can't handle the scrutiny. If there are any additional data breaches of privacy concerns at Facebook, the world will not take it well.

Over on Real Money, Cramer talks about how to trade the highly unlikely deal between Sprint (S) - Get SentinelOne Inc. Class A Report and T-Mobile (TMUS) - Get T-Mobile US Inc. Report . Get more of his insights with a free trial subscription to Real Money.

Remember Why We Invest 

With all of the hoopla coming out of Washington, Cramer said, it's easy to take your eyes off the prize. But investors should remember that investing is still about picking the stocks of winning companies that can outperform the markets.

One of those stocks is Proofpoint (PFPT) - Get Proofpoint Inc. Report , which has soared 35.9% in 2018 as cybersecurity remains as hot as ever. Cramer was also bullish on Nvidia (NVDA) - Get NVIDIA Corporation Report , which received an analyst upgrade today, and Netflix, which has seen analysts raising their price targets ahead of the company's earnings report.

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TheStreet Recommends

Other stocks receiving some love from the analysts included Ulta Beauty (ULTA) - Get Ulta Beauty Inc. Report , which popped 4.2% today on a positive survey of teen shoppers. ExxonMobil (XOM) - Get Exxon Mobil Corporation Report also rose today, by 2.9%, on a positive analyst note, as did Paypal (PYPL) - Get PayPal Holdings Inc. Report .

All of these stocks remind us why we invest, Cramer concluded, and they should be bought on any weakness.

In today's Daily Rundown, Cramer provides more thoughts and analysis on China President Xi's speech, Zuckerberg's  testimony, Nvidia and the market. Find out what Cramer and the AAP team are telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.

Off the Charts: Oil Companies

In the "Off The Charts" segment, Cramer checked in with colleague Bob Lang over the direction of the energy stocks.

Lang looked at a daily chart of Anadarko (APC) - Get Anadarko Petroleum Corporation Report and Conoco Phillips (COP) - Get ConocoPhillips Report , noting that Anadarko has been making higher highs and lows on strong volume, with a bullish MACD momentum indicator. Conoco has made a "W" shaped bottom with a bullish Chaikin money flow, signaling institutional buying. Lang and Cramer were fans of both names.

Turning to alternative energy, Lang looked at First Solar (FSLR) - Get First Solar Inc. Report and SolarEdge (SEDG) - Get SolarEdge Technologies Inc. Report , saying that both names have been consolidating gains and appear poised to resume higher.

For a more detailed technical analysis and a look at the charts, read Oil Companies Show Signs of Strength: Cramer's 'Off The Charts'

Lightning Round

In the Lightning Round, Cramer was bullish on Paychex (PAYX) - Get Paychex Inc. Report , Martin Marietta Materials (MLM) - Get Martin Marietta Materials Inc. Report and XPO Logistics (XPO) - Get XPO Logistics Inc. Report .

Cramer was bearish on 3M (MMM) - Get 3M Company Report , Fitbit (FIT) - Get Fitbit, Inc. Class A Report and Granite Construction (GVA) - Get Granite Construction Incorporated Report .

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At the time of publication, Cramer's Action Alerts PLUS had a position in NVDA, FB, AAPL. AMZN, PYPL, MMM.