Jim Cramer was surprised to learn on Thursday that after all the fear swirling in the market that the Fed would raise rates back in September; it wasn't even close to happening!
The minutes of the Sept. 16-17 Federal Reserve meeting were released on Thursday and showed that the Fed was actually pretty darned worried about faltering global growth and its impact on the U.S. As soon as the market heard the minutes, the averages screamed higher.
"That clarity, the knowledge that the Fed has our back and isn't about to shoot us in the head with a rate hike, emboldened investors to come off the sidelines and pretty much buy whatever merchandise was down," the "Mad Money" host said. (Tweet this)
The new darling stocks of the fourth quarter were scooped up, as heavy industry stocks, transports, oils, retailers and packaged good stocks all rallied.
With the price of crude rebounding, Cramer wondered if it could be time to circle back to the pipeline stocks that have been beaten badly as of late.
To learn more, Cramer spoke with CEO Al Monaco. He explained that the structure of Enbridge's business model is one that is resilient as it is directly connected to refineries and has a low cost infrastructure.
"I think the biggest issue is the commercial underpinning of our assets…and the fact that we've got a low-cost structure allows us to really gain in this kind of environment. In fact, in the environment we are in today, we are extremely well positioned," Monaco said.
Domino's Pizza stock was also put through the meat grinder when it reported on Thursday and missed Wall Street's top and bottom line estimates. The stock plunged almost 5 percent in response, as its overseas business has taken a beating due to the strong dollar.
Domino's has 11,700 locations across the globe, and CEO Patrick Doyle has led the company through a remarkable turnaround and transformed it into one of the strongest growth stories in the restaurant space.
So did Domino's just hit a one-time speed bump, or should investors be cautious? To learn more, Cramer spoke with Doyle.
"It's really pretty straight forward. When food prices are low, it's great for our franchisees. When they are higher, it's a little bit tougher.
"We are looking as much as $20 million hit to the bottom line for the year this year because of the FX headwinds. We've got to perform through that, we have. Our growth is terrific, we are excited about where the business is overall but certainly the FX headwinds have been strong," Doyle said.
As the market continued its best five-day winning streak of the year on Thursday, Cramer decided to dig a little deeper to what could be fueling the economy. Are consumers finally spending some of that money they have been saving at the gas pump?
"For the longest time, far longer than we thought, the savings from cheaper gasoline simply stayed in the pockets of the consumer," the "Mad Money" host said.
On Thursday morning, CNBC's Steve Liesman presented information from the JPMorgan Institute that showed definitively that consumers are now spending that extra cash in retail, particularly in restaurants and retail.
But the real boost to the consumer will come when they get their heating bills this winter, with natural gas close to 15-year lows. That is more savings into their pockets, especially since natural gas is now heating the majority of homes.
"And even though the price of crude has been rebounding, I think it is only going to get better form here for the stocks of restaurants, apparel companies and retailers, one of the most challenged groups of 2015, at least until now," Cramer said. (Tweet this)
Alcoa recently decided to break itself up into a commodity metals business and a separate manufacturer of engineered products. Since the new broke, the stock has roared up 20 percent in a very short period of time.
However, on Thursday Alcoa reported a quarter that came in shy of Wall Street's estimates. But in Cramer's opinion, no one thought this was going to be a great quarter for the company.
Cramer dug deeper with Klaus Kleinfeld, the chairman and CEO of Alcoa to learn more about where the company could be headed. The CEO confirmed that while many of its businesses are strong, there is one area that is under stress.
"The one business that has currently under additional stress is the Aluminum business and we have put together a new restructuring program for this and have been launching it," Kleinfeld said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
Baxalta: "I like Baxalta...This is the kind of stock that nobody really loves right now and yet that is exactly when I will buy it, because we will rotate back into those stocks back in not a long period of time. I say pick some up right here."
BP PLC: "If you are in your mid-20s you want to be in a growth oil. You want to be in a Concho, or a Cimarex. But only if they pull back. That group has had way too big of a move."