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Jim Cramer: S&P at Record High on Strong Earnings From Big Names


TheStreet's Jim Cramer asks why the S&P is at an all-time high again. Fedex, the world's largest transporter of goods, did unbelievably well on Wednesday, showing commerce is doing well. Kroger, the largest supermarket, Red Hat, the largest software service stock, and Adobe, one of the great growth stocks, are all saying things are going well. Cramer says that when you put that all together you get great earnings against a backdrop where the Fed is essentially on hold, thus helping propel the market higher. Cramer says that each time investors get a new earnings report they can revise how much they are willing to pay for stocks. Cramer says that this is why Fed Chair Janet Yellen is right when she says stocks aren't too elevated.