Interest rates are headed higher but that won't hurt certain well-run investment banks, Jim Cramer said on
"Stop Trading!" segment Friday.
"Rates are obviously going higher -- what's the
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
( BSC) and
( LEH) 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
higher. The stock "is so hated you almost have to feel like they're doing something wrong, but they're not."
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.
, which he called "an infrastructure play that people want to get behind."
At the time of publication, Cramer owned ABB in a charitable trust.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click
here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click
here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.