Where would the markets be without Europe? The answer is simple, Cramer said Thursday—we’d be higher.
In fact, the “Mad Money” host has 10 reasons why the stock market would be higher if we could “somehow declare independence from our European shackles.”
1. The transports. Union Pacific just reported great numbers, and that says the autos, chemicals, energy and assorted industrials are all strong.
2. Tech. We’ve heard good news from Intel and eBay , and Google has accelerating growth. Plus, if you take Apple at face value, “you can argue the future’s darned good, although the stock remains in show-me mode.”
3. Some industrial companies have reported some terrific numbers. While Alcoa disappointed, Parker Hannifin and Cooper hit it out of the park. And Nucor may have given downbeat projections, the company’s quarterly sales and earnings were fantastic.
4. Aerospace is “starting to turn on the jets.” Alcoa’s CEO Klaus Kleinfeld told Cramer the aerospace business is booming, and United Technologies reported no flaws in its aerospace division.
5. Retail is gearing up for the holiday season. Names like Macy’s , Nordstrom and Costco are near their highs, Target is inching up and TJX is coming back strong.
6. The restaurants are “irrepressible.” Cramer’s taking his cue from Buffalo Wild Wings , Domino’s Pizza , and McDonald’s . Even Starbucks and Whole Foods are both at or near their highs.
7. The autos have a 13 million annual build rate. GM and Chrysler are doing well, and Ford is talking about a dividend.
8. The utility business has had a great three months.
9. Packaged goods companies like Clorox , Procter & Gamble and General Mills are all doing very well, especially given the decline in the raw costs of packaging and materials.
10. Oil and gas. Cramer said the U.S. has gone from being a declining producer to being the fasting growing producer on earth.
“Our companies are doing really well, and they’re just too cheap based on our prospects here in America,” Cramer said. “They deserve to trade higher.”
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When this story was published, Cramer's charitable trust owned Alcoa, Apple, and TJX.
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