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After today's strong employment number, the new world of higher interest rates is upon us, Jim Cramer announced to his Mad Money viewers Friday. But while lower rates are always better than higher ones, an economy that is growing is what really matters for stocks.

That's why Cramer's game plan for next week's trading starts on Monday with Priceline (PCLN) , the high-growth travel stock that will not be stopped by slightly higher interest rates.

Next, on Tuesday, it's homebuilder DR Horton (DHI) - Get D.R. Horton, Inc. Report reporting, and Cramer said he'd be a seller as this stock is affected by higher rates. Also on Tuesday, analyst days at Cummins (CMI) - Get Cummins Inc. Report , McDonald's (MCD) - Get McDonald's Corporation Report and Brunswick (BC) - Get Brunswick Corporation Report . Cramer said while the turnaround at McDonald's is for real, he's not a buyer of Cummins or Brunswick, which is at a 52-week high.

Wednesday brings earnings from Macy's (M) - Get Macy's Inc Report , a stock that's been hammered down 25% this year and is likely to head still lower as warm weather curtails winter clothes buying in much of the U.S.

Then, on Thursday, it's more retail with Kohl's (KSS) - Get Kohl's Corporation Report and Nordstrom (JWN) - Get Nordstrom, Inc. Report , both of which Cramer said he's not drawn to for the same reasons as Macy's. Cramer said Action Alerts PLUS holding Cisco Systems (CSCO) - Get Cisco Systems, Inc. Report is a buy, but Viacom (VIAB) - Get Viacom Inc. Class B Report is a reason to buy Walt Disney (DIS) - Get Walt Disney Company Report on any weakness.

Finally, on Friday, it's J.C. Penney (JCP) - Get J. C. Penney Company, Inc. Report reporting. While the stock is cheap, Cramer said he still can't recommend it.

Should You Buy Into Oil?

When times get tough, is it better to own an integrated oil stock or a specialty player? Cramer looked at the stocks of Exxon Mobil (XOM) - Get Exxon Mobil Corporation Report , Chevron (CVX) - Get Chevron Corporation Report , ConocoPhillips (COP) - Get ConocoPhillips Report and Marathon Oil (MRO) - Get Marathon Oil Corporation Report to find out.

Back in 2011, when oil prices were high, the pressure was on to unlock value, Cramer recalled, which is why Marathon spun off its refining and pipeline assets in late 2011 and Conoco followed suit in 2012, leaving only Exxon and Chevron as the last major fully integrated players.

But as oil prices began falling in 2014, the exploration and production side of the oil business came under pressure, while the refiners began printing money as their costs fell.

That's why the stocks of Exxon and Chevron are only down 16% and 28%, respectively, in 2015 while the stocks of Marathon and Conoco, which no longer have their refining operations to lean on, are down 54% and 35%.

Oddly, if investors owned both parts of Conoco since the split, they'd be up 65%. The same is not true for Marathon.

But if given a choice, Cramer said he'd rather own an integrated oil, because only an integrated company can hold up in both good times and bad.

Get Ready to Rotate

Now that it's clear the Federal Reserve will have to raise interest rates this year, investors need to brace themselves for the rotation that's coming, Cramer warned viewers. Fortunately, he had the list ready of who wins and who loses as the markets begin to reposition themselves.

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Cramer said the housing sector will definitely cool after a flurry of buyers jump in to take advantage of the last of the ultra low mortgage rates. Industrials will also take a hit as the U.S. dollar will continue to strengthen. Health care, which is over-owned at the moment, will also undoubtedly see lots of selling in the coming weeks.

But on the plus side the financials, mainly the banks with large deposit bases, will begin to rally. That means stocks including JPMorgan Chase (JPM) - Get JPMorgan Chase & Co. Report , Wells Fargo (WFC) - Get Wells Fargo & Company Report and Bank of America (BAC) - Get Bank of America Corp Report , the latter part of Action Alerts PLUS, will be in demand. Of the three, Cramer said Bank of America has the most upside.

But investors need to be prepared for more selling in the consumer packaged-goods stocks, along with utilities and real estate investment trusts, all of which will see selling as the markets adjust.

Executive Decision: Martin Anstice

For his "Executive Decision" segment, Cramer spoke with Martin Anstice, president and CEO of Lam Research (LRCX) - Get Lam Research Corporation Report , which earlier this month announced the acquisition of KLA-Tencor (KLAC) - Get KLA Corporation Report . Shares of Lam are up 10% since that announcement.

Anstice said that he doesn't expect any anti-trust issues with the merger, as Lam and KLA have zero overlap in the products they offer. In fact, the combination of memory and logic chips are perfect complements.

Anstice said KLA offers significant synergies and value for the combined company's customers as they continue to build a platform for future growth.

When asked about the current environment for capital expenditures in the semiconductor industry, Anstice noted there is more discipline now in years past, but that means things are less cyclical and more predictable than they've been in the past.

Lightning Round

In the Lightning Round, Cramer was bullish on Nordic American Tanker (NAT) - Get Nordic American Tankers Limited Report .

Cramer was bearish on Pfizer (PFE) - Get Pfizer Inc. Report , Lannett Company (LCI) - Get Lannett Company, Inc. Report , Rose Rock Midstream (RRMS) , Philip Morris International (PM) - Get Philip Morris International Inc. Report , Himax Technologies (HIMX) - Get Himax Technologies Inc. Report and Navios Maritime Partners (NMM) - Get Navios Maritime Partners LP Report .

Cramer's Homework

In his "Homework" segment, Cramer followed up on several stocks that stumped him during previous shows. He said that while Biotelemetry (BEAT) - Get HeartBeam, Inc. Report is growing by leaps and bounds, it remains too risky as it's too levered to Medicare.

Cramer said that Ferrellgas Partners (FGP) - Get Ferrellgas Partners, L.P. Report is not attractive given all of the warm weather we've been having and its 10% yield is a red flag. He was equally bearish on AAC Holdings (AAC) - Get Ares Acquisition Corp. Class A Report , which runs addiction treatment centers but is embroiled in litigation over several deaths at its facilities.

Finally, Cramer said he really likes NeoGenomics (NEO) - Get NeoGenomics, Inc. Report , an $8 biotech stock, but advises only buying on weakness because the stock has had a big run higher already.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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At the time of publication, Cramer's Action Alerts PLUS had a position in BAC, CSCO, JPM and WFC.