If the employment numbers on Friday are anything like the number that Automatic Data Processing (ADP) reported on Wednesday, Jim Cramer expects the Federal Reserve to add yet another rate hike to its plan this year.
"We are staring right in the face of not one, not two, maybe not even three, but four rates hikes from the Federal Reserve," the "Mad Money" host said.
Despite the strong results from ADP, Cramer noted that many investors seemed eager to sell stocks on Wednesday.
"People just got too bored or too antsy or too frightened to keep the ship afloat, so they surrendered when they should have kept fighting," Cramer said.
The same goes for oil stocks that are being abandoned as crude plunges to $50. Cramer said to find an oil stock you like and dig in slowly, waiting for the next oil rotation to come back.
Cramer has been preaching to investors that the market's recent strength has less to do with who is in the White House, and more to do with an improving global economy.
Whenever there is an economic expansion, one of Cramer's top sectors to pile into is the chemical industry.
"This is one of the most cyclical businesses on earth, so when economies around the world get stronger, the chemical companies tend to see their earnings rocket higher," he said.
In the corporate world, sometimes a break-up can create an enormous amount of value if it's done right. One example is Masco, the maker of home improvement and construction products that spun off its insulation business as a separate company called TopBuild.
Since the split up in Jul. 2015, TopBuild's stock has rallied 68 percent, with most gains occurring in the last six months.
"While I like Masco, I think that TopBuild is the hot stock right now because it's designed to be a more cyclical company that does better in a strong economy, and that big buyback tells me that TopBuild's management agrees," Cramer said.
Avangrid is a company that was created in 2015 when UIL Holdings merged with Iberdola USA to create an electric and gas utility company that services 25 states, though it is mostly focused on New York and New England.
Avangrid also has a large renewable energy portfolio with a lot of wind power exposure. However, Cramer questioned if investors should be concerned about the renewable energy business with President Donald Trump's support of fossil fuels. He spoke with Avangrid's CEO James Torgerson, who explained there is a long-term outlook for renewables.
"All of the ones we are building today have long-term contracts associated with it," Torgerson said.
Cramer says every time investors see a headline about the warning signs in the market, or canaries in the coal mine, or signals to watch for an epic decline — take it with a grain of salt.
"It's what people want to read. Maybe it's even what they should be reading. The kind of evergreen stuff that can be dusted off over and over again and published to perform the public service of telling people when to get out and when to stay in," Cramer said.
It's almost as if there is a business editor who decides that the averages have been rallying for a while, and there have been a few rough days, so they decide that it's time to break out the "warning signs" stories.
The real problem for Cramer with these stories is that while he has seen thousands of these stories since buying his first stock in 1979, there have only been very few moments where it has really paid to heed the warning signs.
In the Lightning Round, Cramer gave his take on a few caller stocks:
Nvidia Corporation: "Nvidia is marking time. I keep saying all the hot money's got to get out of it. There is still too much hot money from when it was up 224%. Now if people look at the chart and they're thinking it's a head and shoulders, it's got to go lower. It's got to get those guys out before you find a bottom. It can take off again."
Reynolds American: "I'd cash in on the run right now and go buy Altria. If you're willing to go buy a tobacco company I still think Philip Morris is going to buy Altria. So, I would go with that."