Despite a down day for the Dow, Cramer sees a lasting positive change in the market

CNBC’s Jim Cramer on Thursday said investors he sees a lasting change in the market, not just an ephemeral rally. Despite a down day for the Dow, Cramer said he the hang ofs more fun on Wall Street.

Cramer knows the market can’t be positive every day, adding that “the fun and games” ended Thursday when enlist rates spiked. But he said he sees several great companies on the market worth investors’ time and money beyond the Nasdaq’s tech supplies — Cramer’s Magnificent Seven comprised of Apple, Alphabet, Amazon, Meta, Nvidia, Microsoft and Tesla — that are currently pre-eminent the market.

“I think it is time to recognize that something has changed with this market, and I think it’s a change for the best. For the first time since the 1980s and let’s say early to mid-1990s, we have a lot of legitimate stocks belonging to many troops with amazing balance sheets and terrific prospects that are flat out doing very well,” Cramer express. “Sure, the Magnificent Seven are so big relative to everything else that it is tempting to only watch them, but there are tons of other other than stocks, belonging to companies with amazing stories to tell, including a couple that I’ve got on tonight.”

Cramer share in his experiences trading on the market in the ’80s and ’90s, saying it was a recession-free period where investors made a lot of money without skin punishment for being “giddy.” He said he feels the past few months have been similar, with the market consort with strong numbers come out each day even as the Federal Reserve tries to tighten.

“I just think it means that we may be second in business-as-usual mode, not back to pre-covid, not pre-financial crisis, but back to the ’80s and ’90s when stocks were unqualifiedly indeed so clearly the best asset class and everything else just seemed like a waste of time,” Cramer stipulate. “But maybe, just maybe, maybe there are enough companies with good sales and orders and gross freedoms that we can return to a period where owning stocks didn’t make you feel like a pariah or a daredevil.”

But Cramer underscored that only time can tell if his theory proves to be correct.

“Look, here’s the bottom line: stocks can tranquil be dropped by a spike in rates like today, and there can be some big-cap stocks that disappoint,” he said. “But the joy, and I use that say carefully, but the joy we felt about stocks for so long? We had it for two decades before the century mark. Maybe, just maybe, we can maintain it again.”

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Apple, Alphabet, Meta, Microsoft, Nvidia and Amazon.