Jim Cramer Says Europe Is Coming Back

Brighter days are ahead for Europe, according to TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer. 'Alcoa (AA) - Get Report spends a huge amount of time telling you what it's really up to,' Cramer said, adding that there are two important takeaways from Alcoa's better than expected earnings report, released Monday after the closing bell. First, the economy is getting better in China and Western Europe. Secondly, Cramer was focused on its Arconic company which deals with autos, aerospace, trucks from China and European cars. Cramer said European bonds are mispriced and that Europe is coming back.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.