Cramer: Market ‘freight train’ is completely Trump-related

The current market makeup is “extraordinary,” and largely thanks to President-elect Donald Trump‘s proposed policies, says CNBC’s Jim Cramer.

Financial, construction and energy stocks rallied Wednesday in response to the Republican’s victory, which Cramer said would mean a big economic push.

“This expansion in the banks not just because of regulation, but it’s also because of interest rates going higher, but it’s also because people feel loan growth is going to be better, people feel lower taxes [are coming],” Cramer said on “Squawk on the Street.”

“When that group [of financial stocks] leads, that’s a freight train,” he said.

Stocks such as Caterpillar were higher than expected Thursday morning, which Cramer noted was a direct response to the election results.

“What I’m seeing … is a pile-on on what [were] considered to be, I think, the worst stocks in the world if Hillary Clinton were elected president,” Cramer said.

Now, he said, the supply of shares for the infrastructure industry is low as investors cling to their stocks and await Trump’s proposed massive infrastructure plan.

With regard to Trump’s questionable temperament, controversial foreign policy measures and the protests organized around the country in response to his election, Cramer said those issues are currently lost on the market.

“The market is completely overriding any of these concerns,” he said.

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