Cramer: Israel-Hamas Conflict Unlikely to Impact Stocks as Investors Focus on Inflation, Fed Policy

CNBC's Jim Cramer said Israel-Hamas conflict may not impact stocks, companies, prospects.

Major indexes saw modest gains despite spike in oil, defense stocks.

Cramer wondered if investors are desensitized after Ukraine invasion, or see no direct impact.

Stocks may be more driven by inflation concerns and Fed's next moves.

Cramer said Wall Street focused on Fed Vice Chair comments, corporate profits ahead of earnings.