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The US stock markets closed higher Monday, bolstered by strong earnings results. On his Mad Money show last night, Jim Cramer said that was great news, because the US markets seemed to be tethered to the issues in Europe for too long, and it is great that the US markets are being driven by the performance of actual companies instead of macro events or speculation.

Here are the stocks Cramer discussed:

CNH Global (NYSE:CNH): Cramer thinks CNH is good, but not great. Cramer told a viewer that going with a proprietary stock in lieu of a commodity stock is the way to make a long-term play. Cramer likes Deere (NYSE:DE) and Potash (NYSE:POT) better. Cramer said he doesn’t consider CNH to be proprietary, because nothing about its equipment is special. CNH Global has a $8.17 billion market cap and trades at 10 times earnings.

Juniper Networks (NYSE:JNPR): Cramer talked about how JNPR had been hammered by its European exposure, but now it is coming back. Its stock rose 6.49% on the day yesterday to close at $22.49 a share. Cramer has recommended JNPR before.

FedEx (NYSE:FDX): Cramer mentioned FDX, saying that it has rallied 16 percent from where it fell after earnings. FDX closed Monday at $81.52, up 2.75% on the day. Mason Hawkins’ Southeastern Asset Management is bullish on FDX. The fund has a $760 million position in the company (see Mason Hawkins’ top picks)

Goldman Sachs (NYSE:GS): Cramer doesn’t like GS, but noted that it was up 7 points even after posting a disappointing quarter. It closed yesterday at $103.98 a share. Bruce Berkowitz doesn’t seem to agree. His Fairholme fund has almost $800 million invested in GS (check out Bruce Berkowitz’s favorite stocks).

iPath S&P 500 VIX (NYSEARCA:VXX): A viewer asked Cramer about investing in the VXX as a way to hedge against the markets’ seemingly unrelenting volatility. Cramer told investors to sell positions and raise cash if they didn’t like the market. Trying to hedge will create headaches, and will eventually prove too much to handle.

VF Corp (NYSE:VFC): Cramer talked about issues with apparel stocks because of their European exposure. While they were to be avoided for a while, VFC hit a $136.99 high Monday and boosted its dividend in spite of it all, leading Cramer to ultimately recommend this stock, if it sells off that is.

Alcoa (NYSE:AA): Cramer likes AA. It was hammered by the situation in Europe, but it hasn’t come back up yet. Cramer feels strongly that it will. AA closed Monday at $10.58, up 3.42% on the day. John Paulson, Paulson & Co, has a position worth over $430 million in AA (check out John Paulson’s top positions).

Cummins (NYSE:CMI): Cramer also likes CMI for the same reasons as AA. Its price was depressed by the situation in the EU, not by its own merits, and it is poised to make a comeback soon. CMI closed Monday at $98.82 a share, up 4.88% on the day.

IBM (NYSE:IBM): Cramer likes IBM as well. He thinks the stock price was pushed far lower than it should have been by the European debt crises and he recommends buying now while the price is still low. IBM closed Monday at $182.25 a share, up 0.34%.

Eaton (NYSE:ETN): Cramer is bullish on ETN. He likes its 3.2% dividend yield, its low P/E ratio of 9.7 and he thinks it is underpriced. ETN closed Monday at $44.23, up 4.69%. Bain Capital’s Brookside Capital fund agrees. It initiated a new position in the company worth over $185 million during the second quarter. It makes up over 2.5% of the fund’s portfolio (see Bain Capital’s top picks).

Dick’s Sporting Goods (NYSE:DKS): Cramer thinks that DKS has hit the end of its rally. It went from $30 a share to $39.14 at close on Monday. Sure, there are growth opportunities, strong store performance and a healthy balance sheet, but Cramer doesn’t think there will be enough there to warrant a buy. He thinks things may actually be getting more difficult for DKS. Cramer recommends selling.

Finish Line (FNL): One of Cramer’s favorite companies, Finish Line grows quickly and has a multiple similar to its growth. Cramer thinks the stock is undervalued and gave it a buy recommendation.

Iconix Brand Group (NASDAQ:ICON): Cramer didn’t recommend buying Iconix because licensing plays tend not to work out too well for the manufacturer and recommended Phillips-Van Heusen (NYSE:PVH) instead. Iconix has a $1.39 billion market cap and trades at 10.6 times earnings.

Nike (NYSE:NKE): Cramer didn’t provide a recommendation about NKE on Monday night’s show, but he did mention how the company is providing more competition for DKS by selling its products directly to consumers. NKE closed Monday at $95.07, up 0.76%.

Under Armour (NYSE:UA): Cramer mentioned UA for the same reason as NKE. DKS is losing market share and Cramer thinks it is because retailers like NKE and UA are expanding their offerings to sell directly to consumers in addition to availability at other retailers. UA finished trading Monday up 4.4% to end at $76.33.

Deckers Outdoors (NYSE:DECK): Cramer likes DECK. He thinks it is doing better than DKS and it is much safer. He recommends buying DECK if it sells off. DECK finished Monday at $106.60, up 3.56% on the day.

Caterpillar (NYSE:CAT): Cramer sees CAT as a cheap stock that could go to $110 a share very soon. It closed trading Monday at $91.77 a share up 5.01% on the day, so lots of upside. Cramer recommends that investors sell half their positions if the stock reaches $110. Ken Fisher’s Fisher Asset Management has over $480 million invested in CAT (check out Ken Fisher’s top picks).

BlackRock (NYSE:BLK): Cramer does not recommend this stock in general, saying that financials are the worst group right now for investment. Cramer did say that if the company starts offering a 4% dividend yield again, he would be on board. BLK closed yesterday at $157.48 a share, up 2.05% on the day.

City Telecom (CTEL): Cramer gave this embattled telecommunications stock a sell recommendation, at is not seeing the growth or improvements executives promised. City Telecom has a $360 million market cap and trades at 12.3 times earnings.

MetLife (NYSE:MET): Cramer is OK on MET. He didn’t offer any specific objections, but he did say that if you were going to invest in an insurance provider, he recommends Prudential (see below). MET closed yesterday at $34.69 a share, up 3.52% on the day.

Prudential (NYSE:PRU): Cramer recommends PRU. It closed Monday at $54.52 a share, up 2.42% on the day. Jeffrey Altman’s Owl Creek Asset Management fund seems to agree. It initiated a $203 million position in PRU during the second quarter, making up roughly 3.4% of its portfolio (check out Jeff Altman’s top picks).

Entertainment Properties Trust (NYSE:EPR): Cramer likes this stock. It has a 6.5% dividend yield and, while it has been down a little, Cramer calls it an anomaly. He thinks the stock is underpriced and a good buy. EPR closed Monday at $42.83, up 2.86% for the day.

Source: Jim Cramer's Oct. 24 Stock Picks