Cramer: Markets should be better on Wednesday

Cramer: Wednesday should be better

Despite Tuesday's plunge less than an hour before the closing bell, CNBC's Jim Cramer said that a few factors could make for more stable markets on Wednesday.

"I think you get a better moment," he said before the U.S. markets opened Wednesday. "It's better than yesterday because of China and the takeover bid, but it's still not great."

The takeover bid refers to news that oil giant Schlumberger is buying Cameron in a cash-and-stock deal valued at about $12.71 billion that would create an oilfield equipment and service powerhouse.

A man walks past the Schlumberger Ltd. booth at the DUG Eagle Ford Conference & Exhibition in San Antonio, Texas. (File Photo).
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"Schulmberger is the smartest company in the oil patch and they're making an acquisition that's very, very positive because we have been waiting for consolidation there," Cramer said.

Cramer also said China's move to inject about $22 billion into its economy could help markets recover.

His advice for investors on when to buy on Wednesday: "I just prefer to buy some point intraday where the futures aren't totally in control."

—The Associated Press contributed to this report.