Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Bank of England Governor Mark Carney says trade war has a confidence effect on business around the worldMarketsread more
This is one of my favorite banks out there, said Cramer.
If you watch Mad Money regularly you know that the resurgence of the regional banks is one of many long-term investable themes that Cramer introduced at the beginning of the year. Back on January 7th, Cramer said if he could play the theme with only one bank it would be KeyCorp. "I think it's the most undervalued regional and should benefit from a resurgence in the heartland," he said at the time.
Fast forward 10 months, and the price action in KeyCorp appears to confirm Cramer's aplomb for picking winners.
Shares are up over 40% year to date. That's more than twice the S&P 500.
And with over a thousand branches across 24 states in the Midwest, the Northeast, and the Pacific Northwest, Cramer thinks KeyCorp is well positioned going foward.
In part that's because Cramer expects a recovery in housing to pick up steam.
If are any indication, business has already picked up steam; the latest results released Wednesday showed profits rose and loans increased
Looking at the numbers a little more closely, Net income after preferred dividends was $266 million, or 29 cents per share, for the three months ended Sept. 30. That compares with $214 million, or 23 cents per share, a year earlier.
Analysts surveyed by FactSet expected earnings of 23 cents per share on revenue of $1.02 billion.
That alone would support Cramer's bullish outlook; however, there's more.
"The company holds a lot of excess capital and they are aggressively returning it to shareholders," Cramer said. "In this quarter alone, Key bought back 16 million shares, that's 2% of the total share count."
That too should drive an advance
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Cramer has recommended this stock for quite some time. And he's putting money where his mouth is. "I like it so much that we own it for the charitable trust," he added. "It's just a very well managed bank."
*Disclosure: On October 16th Jim Cramer owned shares of KeyCorp on behalf of his charitable trust
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