Stock futures traded mostly higher Thursday after solid earnings and the Federal Reserve said the economy was making progress but it still had a ways to go before the central bank begins tapering stimulus.

TheStreet's Jim Cramer shares his thoughts with Action Alerts PLUS senior analyst Jeff Marks about Google parent Alphabet  (GOOGL) - Get Alphabet Inc. Class A Report and aerospace giant Boeing  (BA) - Get Boeing Company Report.

Cramer on Alphabet: 'Struggle to Restrain Enthusiasm'

Alphabet reported strong results from a bounce-back quarter that lapped the company's results from a year ago and topped analysts' estimates.

"My sources at the company are indicating that they struggled to restrain their enthusiasm," Cramer said. "That it was that great a quarter."

Cramer said Google Search, the company's biggest money maker, was "amazing," as revenue jumped to $35.85 billion from $21.32 billion a year ago. Advertising revenue overall, including YouTube and other streams, totaled $50.44 billion.

"For the fraction of the cost of TV," Cramer said of YouTube, "you can reach 70% of the people that TV doesn't have."

TheStreet Recommends

Cramer said that the stock will go down "and then the bears will say travel is going to go down... because of the delta variant and maybe the other letters all the way to omega."

"So you can always craft a story about why a stock is down," he said. "It’s very hard to refute when what you’re really seeing is a group move against tech."

Cramer on Boeing: 'Much Stronger Than We Thought'

Boeing  (BA) - Get Boeing Company Report posted its first quarterly profit in more than two years, thanks in part to the post-pandemic rebound in commercial aviation.

"What I see from Boeing is a much stronger Boeing than we thought," Cramer said.

Boeing said that its current order backlog edged lower on the quarter, to $363 billion, but noted that the commercial airlines portion of the tally rose to $285 billion thanks to 180 net new orders. 

"China is actually working to certify the 737," Cramer said. "The 737 is in unbelievable demand. We're going to have a lot of travel after we put down COVID."

Alphabet and Boeing are holdings in Jim Cramer's Action Alerts PLUS charitable portfolio. Want to be alerted before Jim Cramer buys or sells the stocks? Learn more now.