a © TheStreet Morning Bell With Jim Cramer: Stocks to Buy in a Selloff

Stocks sank Thursday and Treasury bond yields tumbled to five-month lows as investors feared the the spread of new coronavirus infections could stall global growth.

TheStreets Jim Cramer discussed interest rates, bank stocks and other issues with Jeff Marks, senior portfolio at Action Alerts PLUS.

Selloff Tips: Battle-Tested Stocks

Cramer offered his Mad Money viewers on Wednesday night a list of seven themes he said will lead stocks higher in the second half of the year.

Cramer advised his viewers to watch activist investors, the new hybrid workplace, Chinas new tone, crude oil, overpriced initial public offerings, rampant ransomware and, finally, meme stocks.

Picking up on that theme, Marks discussed Cramers themes for stocks to buy during a selloff.

This includes, Marks said strong, battle-tested stocks ... terrific stocks that are working and you finally get that pullback youve been waiting for ... and stocks that were pulled down by a specific catalyst.

Bank Stocks: Sword of Damocles

Marks cited American Express , which was upgraded on Tuesday by Goldman Sachs analyst Ryan Nash to buy from neutral with a price target of $225, up from $185.

With the card stocks trading at less than nine-times 2022 estimates, credit likely to remain benign for several years and significant excess capital, this remains a group investors will want to own, Nash contended.

Cramer said that American Express was pulled down recently by the banks. He also said hes watching the 10-year Treasury yield ahead of earnings from the major banks next week.

U.S. Treasury bond yields extended declines Thursday, pulling 10-year notes to a fresh five-month low.

The 10-year is a sword of Damocles coming down on these guys, he said. If we were going toward 1.75% to 2%, the conference calls will go a lot better.

Cramer described Wells Fargo as a turnaround story, not a net interest margin story, adding that CEO Charlie Scharf is turning that company around.

We own Wells, he said. I would buy even more Wells.

Wells Fargo is a holding in Jim Cramers Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells WFC? Learn more now.

This article was originally published by TheStreet.

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