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Cramer: 5 Signs Signaling Growth

What moves the needle for stocks, Cramer said Thursday, is growth — the ability for sales and earnings to increase beyond expectations.

"We rallied today because of a judgment about the growth of the global economy, which will underpin the possibility of corporate earnings growth in the future," Cramer said. "Just like love, when you have growth, you can overlook so many of the negatives that the punditocracy endlessly harps on in order to scare you away from investing in stocks."

Few companies are reporting quarterly earnings results right now, Cramer said. There are other ways of determining the day-to-day direction of the market, though. Five data points released on Thursday suggest the markets will experience continued growth.

First, Cramer said weekly unemployment claims fell to the lowest level in 2 1/2 years. Job growth, Cramer said, is the single biggest driver of domestic profits. If more people are employed, companies reliant on consumer spending have a better chance of beating estimates. Even if Friday's jobs report disappoints, Cramer said the trend in weekly claims is positive.

Second, the U.S. services sector grew at a slightly faster pace in February to another five-year high, according to the Institute for Supply Management's survey report. Being as two-thirds of the U.S. economy is service-orientated, Cramer thinks this is a good sign.

Third, the U.S. dollartraded lower. Cramer said that as the dollar falls, U.S. companies can sell their goods for sell. In turn, American companies focused on exports, like 3M and United Technologies , saw shares soar on Thursday. A higher dollar makes it more difficult for these businesses to sell their products to overseas buyers.

Fourth, a productivity report showed labor costs are declining. With commodity costs climbing, reduced labor costs help bring down the cost of making a product. Higher productivity — getting more out of your workers for less — helps to outpace commodity costs, Cramer said.

Fifth, fears were quelled as the price of oilfell. If fear is under control, Cramer said companies are more willing to expand, hire and pay good dividends.

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