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How US Companies Can Profit In This Economy

The U.S. stock market is not the same as the U.S. economy, Cramer said Thursday. Yet many investors conflate what's happening with the economy with what's happening to stock prices.

"It's this misconception that's kept you out of every single point of upside since the generational bottom back in March of 2009, and it's always worth debunking, especially after this week's spectacular move higher," Cramer said.

To illustrate his point, Cramer noted that most big cap companies, especially those that are performing well, get up to just 40 percent of their sales from the U.S. Meanwhile, central banks in many emerging markets are talking about pending victories over inflation, meaning they could soon stop tightening. As tightening in emerging markets comes to a close, Cramer thinks the industrials stand to benefit.

In addition, Cramer thinks Europe is about to tighten, which would also drive the U.S. dollar down. A lower dollar would help U.S. exporters because it makes their products less expensive to foreign customers.

Market momentum also got a boost from a surprise in the Chicago Fed manufacturing reading. The Purchase Manager's Index registered a 61.1 reading, up from May's 56.6 and ahead of expectations for a 53. Anything about 50 is considered an expansion. Yet Cramer said exports don't rule the U.S. economy because it's not manufacturing-, but service-based. Exports do, however, rule the stock market because it drives earnings for the international companies Cramer often recommends.

While many things need to happen before the U.S. economy is back at full strength, Cramer said U.S. companies can still profit in this environment. Understanding that the health of the U.S. economy has little bearing on the profitability of many U.S. companies is important for any investor to know, Cramer said.

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