Jim Cramer Says Oil Is the Dominant Theme in the Market

TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer said oil is the driving force behind the rise in aerospace and industrial stocks. Cramer said, 'When you saw oil up, it was able to take everything up everything. Now aerospace goes up, the more oil goes up, the more you need new planes. You see that demand is exceeding supply which tells you that things are better for the economy. It creates a better tone for the industrials because it means that china is better.' Cramer said that good, or bad, oil is viewed as the world barometer for growth and he said, 'that's why you can buy Caterpillar (CAT) - Get Report , that's why you can buy United Technologies , that's why you can buy Honeywell (HON) - Get Report , that's why you can buy GE (GE) - Get Report .'

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