NEW YORK ( TheStreet) -- On yet another roller coaster day on Wall Street, Jim Cramer asked his "Mad Money" TV show viewers where the market would be without Europe. He then outlined 10 reasons why the U.S. markets deserve to trade higher. 1. The transports are strong. Cramer said to just listen to the Union Pacific ( UNP) conference call and you'll hear how autos, industrials and chemicals are all strong. 2. Tech's bouncing back. From Intel ( INTC) to Ebay ( EBAY), and yes, even Apple ( AAPL), a stock which Cramer owns for his charitable trust,
Well-Run BankIn the "Executive Decision" segment, Cramer spoke with Kelly King, chairman and CEO of BB&T ( BBT), a regional bank that just delivered a three- cent-a-share earnings beat with 4% year-over-year loan growth and improving credit quality. King said that investors are having a hard time understanding the global environment and tend to generalize that if big banks are having problems then so must BB&T. However there are big differences between conservative banks and those who choose to take on a lot of risk, he said. King noted that BB&T has no exposure to Europe nor any sovereign debt. He said that BB&T has always focused on their clients, so they typically don't see the boom or the bust. "We just help our clients as we always have," said King. When asked about how the bank can make money with with such a low, flat yield curve, King explained that many of BB&T services have floors. So even if interest rates are at 1%, the bank will still be able to charge 4% and still maintain a reasonable margin. King also noted that 42% of BB&T's revenues are not tied to its community banking operations, which helps to diversify its exposure. Cramer said that BB&T is a cheap stock and a well-run bank, but banks, he reminded viewers, are tough to own right now.
Competing Against ChinaIn his second "Executive Decision" segment, Cramer spoke with Dan DiMicco, CEO of Nucor ( NUE), a steelmaker with a 4% yield. Nucor just delivered a 4-cent- a-share earnings beat on a 26% rise in revenues. Nucur trades at 10.6 times earnings with a 12% growth rate. DiMicco joked that the economy has not been cooperating with Nucor and its slow rate of growth is not good for the steel business. That said, DiMicco said Nucor is taking full advantage of the weakness to improve sales and profitability. "Our shares can go nowhere but up," he concluded. DiMicco also said that Nucor has growth quite a bit over the past 10 years and is producing more steel than ever before. He said not only is the company growing exports, but it's also growing its materials and high-value added products as well. Turning to the hot-button topic of China, DiMicco said it's hard to compete with state-owned enterprises that have little profit incentive. He said that it's hard to compete with low-cost steel that's dumping into the U.S, especially when U.S. companies can't sell into or build plants in China. DiMicco called for the U.S. to get bank into the global trade fight and force the Chinese to play by the rules they've already agreed to play by. Cramer said that Nucor is yet another dirt cheap company, only this one pays you 4% to wait for the economy to improve.