Cramer: Buy these stocks when investors are worried about rising labor, oil costs

The best time to invest is when investors are concerned that increased labor and gasoline expenditures will negatively impact company profits ahead of earnings season, CNBC's Jim Cramer said Wednesday.

In Delta Air Lines' case, the stock jumped 6 percent on Tuesday, and another 3 percent on Wednesday, on news that the carrier raised first-quarter earnings, he said. Because of better-than-expected revenues, the airline is forecasting earnings to fall in the 85 cents to 95 cents range, compared to the 80 cents that analysts expected. Stock traders thought Delta would have low traffic and higher fuel costs, he said.

"Home Depot now trades at $198," Cramer said."You had to buy it when everyone else was fleeing in terror. Now you have Home Depot's best-selling season right in front of them in the next two weeks ... because of gardeners and grillers alike."

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