The market is a battle out there right now and while it might look fairly placid on the surface, Jim Cramer sees forces at work that are crushing the stocks of perfectly healthy companies.
There are three macro themes in particular that the "Mad Money" host thinks are causing stocks to react dramatically. They either fly high or crash, depending on how the company itself is doing.
The first issue is that there is a huge slowdown happening. On Wednesday morning, gross domestic product reportedly gained just a miniscule 0.2 percent, versus the 1 percent expected. That is the smallest growth that Cramer has seen in ages. And yes, there was a West Coast slowdown and bad weather. But the U.S. is a huge country!
"I don't have a good excuse for this hideous number other than that there was less business being done than we thought," Cramer said
The second force at work is that oil is done going down, which means gas goes back up. Back in January, Cramer said the floor had been reached at $43, and it did. Oil has now been headed higher, thanks to the dollar that has stopped gaining strength.
The third force behind the scenes is that the Fed said it will raise interest rates later this year, and it didn't nix that theory when it issued a statement on Wednesday.
And while there were major themes at work, Cramer thinks the market appeared placid on the surface because there was a ton of takeover talk on Wednesday. There was what Cramer thinks is a total rumor that Salesforce.com may have contacted bankers to sell itself.
"This one's difficult for me to swallow and not just because Marc Benioff, the founder and CEO, spent yesterday afternoon showing me a mock-up of the 60-story tower that he's building for his burgeoning tech team," Cramer said.
After interviewing the CEO on Tuesday, Cramer thinks Benioff plans on going it alone. Given the $47 billion market cap of Salesforce, Cramer suspects it would be a very expensive and unlikely acquisition if the rumor that Oracle were to acquire the company would come true.
"But, as I've seen in my week out here in San Francisco, this is a city of dreams that do sometimes come true," Cramer added.