TheStreet’s Jim Cramer explained Thursday’s decision by the European Central Bank and how it impacts markets. Cramer said the ECB is essentially offering credit lines to banks that have trouble accessing cheap credit. Cramer said while lending is less expensive now, the real question is whether their corporate demand to take on new debt. Cramer added that for U.S. companies, business has been pretty good in Europe. He pointed to companies like Cisco (CSCO), Salesforce.com (CRM) and the auto companies as examples. Cramer also pointed out that China will benefit from the ECB’s moves, since 25% of its exports go to Europe. The ECB lowered lending rates and increased stimulus. TheStreet’s Rhonda Schaffler has details from the New York Stock Exchange.
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