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NEW YORK ( TheStreet) -- Is Santa Claus coming to the stock market? Jim Cramer thinks so and gave his Mad Money 10 reasons why Thursday. Cramer said we're in a seasonally strong market and all the right ingredients are in place. What are those ingredients? 

First, Cramer said the markets have growth without inflation, always good news for stocks. Second, we have the Federal Reserve on our side. As the old adage goes, never fight the Fed. Third, Washington is largely off the front page now that a budget has been passed.

Critics of the Federal Reserve are calling for Fed to raise interest rates sooner as opposed to later, but is that really what the global economy needs? Cramer said he think not, and called on the critics to cool their rhetoric.

Cramer said their would be serious repercussions if the Fed were to raise rates too soon, especially for emerging markets and for Europe, which continues to struggle to gain its footing. Higher rates, he said, could put a real damper on global growth.

More importantly, Cramer said the the Fed is supposed to raise rates when they see inflation, and in today's economy, there's far more deflation than inflation. Don't forget that the Affordable Care Act kicks into full effect in 2015, meaning that small and mid-size businesses could begin to slow their growth.

Cramer said many of the complaints about the Fed come from those short the market or those that are "talking their book" and looking to profit from higher rates. The Fed will raise rates when the data supports it, Cramer concluded, and the critics just need to wait.

While the market might not yet have no geopolitical risks, number four, there is at least talk of peace in Ukraine, Cramer noted. Fifth is an easing of commodity pressures. As Cramer noted yesterday, the markets can handle declines as long as they're gradual.

Six and seven are takeovers and strong corporate profits, two things the markets are seeing on a daily basis. Eight is buybacks and dividends, with Boeing (BA) and 3M (MMM) as prime examples.

Ninth on Cramer's ingredient list is leadership in the biotech stocks, notably Celgene (CELG) , Regeneron (REGN) and Gilead Sciences (GILD) .

The final ingredient is the cooperation of global markets, something that could happen if Europe is able to rebound on good news from Ukraine.

Cool the Rate Rhetoric

Critics of the Federal Reserve are calling for Fed to raise interest rates sooner as opposed to later, but is that really what the global economy needs? Cramer thinks not, and called on the critics to cool their rhetoric.

Cramer said there would be serious repercussions if the Fed were to raise rates too soon, especially for emerging markets and for Europe, which continues to struggle to gain its footing. Higher rates, he said, could put a real damper on global growth.

More importantly, Cramer said the Fed is supposed to raise rates when it sees inflation, and in today's economy there's far more deflation than inflation. Don't forget the Affordable Care Act kicks into full effect in 2015, meaning small and mid-size businesses could begin to slow their growth.

Cramer said many of the complaints about the Fed come from those short the market or those "talking their book" and looking to profit from higher rates. The Fed will raise rates when the data support it, Cramer concluded, and the critics just need to wait.

Cramer's New Fave? Isis Pharmaceuticals

Cramer's gone on record as being a big fan of the biotech stocks, with names like Regeneron, one of his all-time favs, up a staggering 5,700% over the past 10 years. Now Cramer said he's got his sights on what could become the next Regeneron, Isis Pharmaceuticals  (ISIS) .

Isis has a massive pipeline, with 34 programs currently under development. Cramer focused on just one, a drug called FXI, an anti-coagulant that helps prevent blood clots, currently in Phase II testing.

Cramer said doctors walk a fine line when prescribing anti-coagulants. They want to prevent blood clots in their patients, but also don't want them bleeding out as a result of the medication. So far in Phase II testing, FXI has been proven to be far superior than all other options, allowing the blood to clot but not allowing the clots to become big enough to cause strokes or other complications.

While FXI is currently being studied for just knee replacement surgery, the applications for the drug are enormous, and Cramer said FXI could easily become a $5 billion enterprise. That's big news for Isis, which is currently a $7 billion company.

Even with the stock up 47% for the year, Cramer said Isis is a winner.

Executive Decision: Tom Pike

For his "Executive Decision" segment, Cramer spoke with Tom Pike, CEO of Quintiles (Q) , the drug testing company that just posted a 1-cent-a-share earnings beat on in-line revenue. Shares of Quintiles are up 17% since Cramer last checked in at the end of May.

Pike said that Quintiles is committed to increasing the probability of success for its customers, which means helping drug makers determine failures faster.

When asked about the current round of Ebola treatments currently under development, Pike said he's pleased with the latest results, which are showing promise in treating the disease and fewer side effects.

Overall, Pike was bullish on Quintiles' outlook given there are more and more drugs being developed and that means more opportunities for his company to aid in the development and commercialization of those drugs.

Cramer said Quintiles remains a favorite of his in this space and he'll keep recommending it.

Lightning Round

In the Lightning Round, Cramer was bullish on Starbucks (SBUX) , Fluor (FLR) , Macy's (M) and JPMorgan Chase (JPM) .

Cramer was bearish on KBR (KBR) , Transocean (RIG) and HSBC Holdings (HSBC) .

Off the Tape

In his "Off The Tape" segment, Cramer sat down with Josh Tetrick, CEO of the privately held Hampton Creek Foods, makers of JustMayo and JustCookies, both of which are plant-based and devoid of eggs.

Tetrick said Hampton Creek set out to create healthier, safer alternatives to traditional mayonnaise and cookie dough and was able to create products that taste great and are better for you. Hampton Creek products are now sold at over 15,000 locations including Wal-Mart (WMT) , Whole Foods Market (WFM) and Costco (COST) .

With so few players in the natural and organic food space, Cramer said Hampton Creek is assured to be a successful public company, if it isn't acquired beforehand.

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

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-- Written by Scott Rutt in Washington, D.C.

To email Scott about this article, click here: Scott Rutt

Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC

At the time of publication, Cramer's Action Alerts PLUS had a position in SBUX.

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