"We have a remarkably wide spectrum of stocks on the all-time high list today, and each day, depending upon the close, there are more and different companies," Cramer said. "It's a sign that as much as earnings are inconsistent and Washington can chop block us and spear our defenseless markets with their helmets of hatred, it's still a much stronger market than we realize."
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Five percent of companies in the S&P 500 index reached all-time highs Monday, Cramer said. Notable are transports UPS and FedEx, he added. After all, it takes improved global commerce, lower operating costs and hopes for a strong holiday shopping season for transport stocks to reach all-time highs, he said.
Cramer thought it was interesting that Delta Air Lines made the list. But consolidation in the industry, coupled with falling fuel prices, appears to have helped push some airline stocks higher.
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Several retailers also hit all-time highs Monday, including Walgreen, Costco and Limited Brands. There were also precision instrument makers and defense contractors, as well as life science companies and media and publishing stocks, among others.
To Cramer, the diversity of the all-time high list bodes well for the strength of the market.
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