After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
Ford is one of four automakers that reached a voluntary agreement with California on fuel efficiency rules, defying Trump and his administration's effort to strip the state of...Autosread more
See which stocks are posting big moves after the bell.Market Insiderread more
Just as weakness in Europe and China dragged down the S&P 500 back in 2011, Cramer believes forthcoming strength is about to drive it higher in 2013.
Now, make no mistake, although there are China and EU skeptics in the market Cramer is not among them. He is convinced both economies are getting stronger.
"We're just getting fabulous news at every turn: for example we've gotten a robust PMI from China, we've seen incredible gains in the Baltic Dry Freight Index, and we've gotten a fantastic Chinese export number, 7.2% growth versus the 6% people expected. "
Looking at Europe Cramer sees similar positives.
"Hardly a day goes by when we don't see some electric number out of Europe, whether it's a better than expected European PMI, or improving confidence numbers. "
All told, Cramer thinks the turn overseas is undeniable.
And for investors, here's the important part -- he doesn't think China and Europe are properly factored into the market. "Right now Europe and China aren't the focus for most investors," he said. Instead it's tapering and raising rates.
Therefore Cramer believes US stocks that are likely beneficiaries of a recovery in Europe and China are too cheap.
Following are the stocks that Jim Cramer has on his radar.
Ford: Cramer thinks Ford could rally to at least $18. "Europe had been a problem for the company," he said. Therefore a turn could drive earnings. And Cramer sees another tailwind for Ford. "From what I can tell the American car market is the strongest it's been in in years."
Eaton: "Eaton has been in the doghouse since it guided down after the last quarter, with Europe being one of the chief headwinds to their performance. What happens if it turns into a tailwind with a genuine rebound in business? " Cramer thinks the answer is gains.
Caterpillar: "A turn in China, where Caterpillar was dramatically over-inventoried, could be huge. Any sign of just one month worth of better orders should take this Dow stock at least ten percent higher, " Cramer said. "Perhaps more. "
Cummins: "We know Cummins is producing eco-friendly truck engines, both diesel and natural gas. The U.S. market may not be so hot, but Cummins is really reliant on China for the upside. I suspect they get it. "
Joy Global: "China opens a new coal-fired power plant every ten days. They need equipment from Joy Global to get coal out of the ground. "
Read More from Mad Money with Jim Cramer
Cramer's top ideas for the week ahead
This $3 stock way too cheap?
Quiet developments demand attention, says Cramer
All told, Cramer sees every reason for these stocks -- and by proxy the entire S&P 500 -- to rally further.
"As far as I can see, the socialists in Europe and the Communists in China are bailing out the capitalists in the U.S. It couldn't come at a better time.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? email@example.com
Questions, comments, suggestions for the "Mad Money" website? firstname.lastname@example.org