Although Asia and Europe continue to attract attention, Jim Cramer noted Monday that American investors are focusing more on how the U.S. economy is affecting the stock market.
“The United States has begun to reassert itself as the dominant market, filled with many stocks that simply aren’t impacted by world events and others that have enough domestic business to offset any global worries out there,” Cramer said.
The “Mad Money” host noted that at this time last year, many U.S. companies had great exposure to Europe as the region’s debt crisis came to the fore. Meanwhile, China's economy was seen as the “engine of global growth,” so its sudden slowdown shocked the world.
(Read More: Why China's 'Hard Landing' Fears Are Overblown.)
One year later, however, Cramer said U.S. companies have adjusted, reconfigured and often times minimized any exposure to Europe. Meanwhile, he said it seems China’s slowing economy really only affects a handful of companies, such as construction machinery maker Caterpillar, sporting apparel maker Nike and engine maker Cummins, among a few others.
“We just don’t make enough things to be impacted by China,” Cramer said. “We can talk a big game and worry about China and sell-off on some Chinese news, but we bounce back and bounce back quickly because it means so little to the vast majority of our companies.”
(Related: US the Brightest Spot in World Economy.)
So what’s the bottom line?
To Cramer, the decision by European policymakers to “kick the can down the road” in terms of solving the region’s debt woes only provided American companies more time to better position themselves. Meanwhile, he reiterated that China’s sluggish economy has been found to actually have little impact on most U.S. stocks.
When this story was published, Cramer's charitable trust owned Nike.
@MadMoneyOnCNBC on Twitter
"Mad Money" on Facebook
Call Cramer: 1-800-743-CNBC
Questions for Cramer? firstname.lastname@example.org
Questions, comments, suggestions for the "Mad Money" website? email@example.com