"Once again, this market is downright shocking," the "Mad Money" host said. "The bank stocks had been rallying for days because the economy's red-hot, hot enough that the Fed might have to raise rates repeatedly."
Cramer has long dubbed the financials as the market's most important leadership sector. But after the labor report showed a distinct decline in retail jobs — which Cramer attributed to the rise of e-commerce — industrial and transport stocks caught fire.
Cramer said that the industrials likely rose because buyers hoped the Fed would be cautious with its rate hike agenda, and the transports popped because of the online shopping boom.
With that in mind, the "Mad Money" host turned to the stocks and events he'll be watching in the second week of the new year: