Cramer Reviews July's Best Artists on Dow Jones and S & P 500

Wall Street finally got what it was ordering from the Federal Reserve, but investors were still disappointed, CNBC's Jim Cramer said Wednesday.

The central bank lowered the benchmark interest rate by a quarter of a point to reach the 2% range at 2.25%, but traders who wanted President Jerome Powell to announce future cuts would Were not satisfied. The Dow Jones Industrial Average, the S & P 500 and the Nasdaq Composite all lost more than 1% during the last trading day of July.

The host of "Mad Money" said "that there was nothing shocking in the statement of Fed chief Jay Powell, but that many people do not seem to understand how the game is played ".

Cramer took the time to review the top winners of the month on the Dow and S & P indices.

"When you have days like today, where do you see … [panic traders] Decide that the Fed made a disappointing move, even if we got exactly what we wanted – no more and no less – look at the July leaders for advice and, in some cases, you'll find strong buying opportunities , "Cramer added.

1. Procter & Gamble

Procter & Gamble, which owns the Bounty, Crest and Dawn brands, jumped 7.65% this month. Cramer was reluctant to recommend the title before its last quarterly report, but the company recorded organic growth of 7% of its sales in Tuesday's earnings report.

"It's staggering for an old fashioned consumer goods company that has been struggling for ages to get low numbers," he said. "It turns out that Procter deserved to run in. The thing has gone from a game of blue dividends to a stock of growth literally overnight."

2. apple

Apple climbed 7.64% in July. The title gained 2% on Wednesday and its profits were higher than those of the previous day.

"Buyers do not care about disappointing iPhone sales because wearables and services are the future," Cramer said. "Investors are still paying more for recurring income shares. [CEO] Tim Cook's Apple makes this transition. "

3. Goldman Sachs

The investment bank saw its shares grow by 7.59% this month. Goldman Sachs has developed a recurring revenue business model, and that's what the market wants, Cramer said.

"I think it deserves to sell at an even higher valuation – a gigantic buyout will help them get there," he said. "I just hope Goldman is ready for the Apple payment card."

4. IBM

Big Blue shares gained 7.5% this month. The stock regained its strength after signing a $ 34 billion contract with free software maker Red Hat on July 9.

"I think the solution makes sense, and even here the return remains 4.3%," said Cramer. "I would be a buyer."

5. Intel

Intel's shares jumped 5.60% during the month.

"The company has not really done much to deserve a rally this month," he said. "It was strictly a BTF situation – better than we feared."

1. Twitter

Twitter's actions caught fire in July, with an upward trend of more than 21%. The social media company has surpbaded the estimates in its second quarter earnings report, which Cramer said revealed that the platform is now the "destination choice for advertisers".

"I think it will really be the beginning of a series of good numbers," he said. "I would like a buyer in any weakness."

2. Micron

Micron, which Cramer called "one of the most important battleground titles in the overall market," rose more than 16 percent in the month. The commodity semiconductor maker is "a little hostage to trade negotiations with China," he added.

"While the title has been criticized today, down more than 5%, I think it could be … alluring of a few points less," said the host.

3. Universal health services

Universal Health Services shares rose 15.70% in July. The health care provider, one of the country's largest, recorded a positive quarter last week and reached a $ 127 million settlement with the federal Department of Justice for its behavioral health facilities, noted Cramer.

"This allowed the company to double its dividend and add a billion dollars to its redemption.That's why the action caught on fire." Alan Miller, President and Chief Executive Officer, is a legend of this sector, "he said. "In the last ten years, its share has increased by 440% S & P up 196% [in] the same period. "

4. United Parcel Services

The logistics giant, recognizable by UPS, saw its stock rise by 15.69%.

"I never thought of saying that, but the truth is, it's UPS [has] does better than FedEx, "said Cramer. It has this yield of 3.2%. I like that. "

5. Discover financial services

Shares of Discover Financial Services, a technological technology game, gained 15.66% over the period.

"Right now, Discover is playing catch-up in the space … Visa, Mastercard, American Express," Cramer said. "Over five years, it's even more obvious, Discover has gained 62%, Visa 249%, Mastercard 279%, and finally Discover has finally taken action."

Disclosure: Cramer charitable trust holds shares of Apple