When gasoline goes down, the “Mad Money” host said, people get a little more bullish. Plus, he said we’re getting some really strong June retail numbers.
He also thinks we are looking at a market that may be coming back because of Japan and China, which reacts to commodity inflation.
“The main thing is if China is allowed to be able to grow its economy again, which has been decelerating because of the central bank,” he said, “[and] if Japan really comes back online you’re going to see autos and auto parts doing much better.”
Cramer said the fact that June is stronger than May “may be enough to get things going, particularly with less inflation.”
Speaking of strong retail numbers, shares of Nike sprinted higher after the company reported earnings and revenue that surpassed expectations. Cramer said he was amazed how the sports-gear maker was able to accelerate so quickly from the previous quarter.
“It is very rare in America that you can have a quarter as bad as they had previously and then have such a dramatic acceleration in a three month period,” he said.
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