The Chinese Manufacturing PMI numbers are due out Thursday night, and it's something many investors should be focused on.
China has been and remains a huge focus for a number of investors, TheStreet's Jim Cramer said Thursday morning from the floor of the New York Stock Exchange.
PepsiCo (PEP) - Get Report recently reported a good earnings results and on its conference call, CEO Indra Nooyi said that China is rebounding. Adding to that optimism, a breaking-out Caterpillar stock would also have investors believing that a comeback in China is real, Cramer said.
Cramer also said he believes China will be "relevant" this quarter - as the country's economy often times seems to be at the forefront or on the back-burner for investors depending on other global events.
However, one thing that stuck out to Cramer was the lack of the fossil fuel growth, both in China and the U.S. It would certainly be more encouraging if demand were to increase, he concluded.
At the time of publication, Cramer's Action Alerts PLUS had a position in PEP.