Jim Cramer names inexpensive stocks worth buying as the S&P 500 heads higher

CNBC's Jim Cramer suggested that it can seem hard to make new investments in this market as the indexes soar to new heights. However, he said there still are relatively inexpensive stocks to be found, naming S&P 500 names in several sectors that stand out to him.

"Sometimes it can feel like there's nothing left to buy," he said. "When you do a little work, you can find a host of cheaper than average stocks with above average growth."

Cramer first highlighted T-Mobile, noting that he's confident in the cell network's team even as the company just announced a leadership change. He pointed to three stocks in the consumer sector — travel names Royal Caribbean and Expedia, as well as Dollar Tree. To Cramer, Dollar Tree can perform well in this environment by appealing to value-conscious consumers, adding that he thinks it's positive that the retailer spun off its weaker Family Dollar business.

There were also a number of financials on Cramer's list, as he said it's a good time for the sector as a whole. He named credit card companies Capital One Financial and American Express, noting in particular that the latter seems to be popular with Millennials and Gen Z customers. Cramer said Citigroup is the cheapest among the big banks even as it's had a big run, adding that it's made a strong recovery in recent years. He also said he likes regional bank KeyCorp. He highlighted Charles Schwab, Chubb and private equity name Apollo.

While healthcare has been "mostly been a wasteland this year," Cramer said he liked biopharmaceutical company Incyte, suggesting it has a robust pipeline. He also recommended a few tech names, including Dell and electronics manufacturer Jabil. Cramer said the former is a core player in the artificial intelligence infrastructure sector, while the latter is becoming more valuable to customers as they deal with tariff uncertainty.

Cramer said his favorite industrials are Caterpillar, Cummins and Jacobs Solutions. Cramer called Caterpillar a "machinery kingpin," while Cummins and Jacobs Solutions have solid exposure to the data center theme. He also picked out utility Entergy and real estate company BXP, which has a "portfolio of mostly high-quality office properties."

"At the moment, the S&P in the aggregate is expected to put up 12.5% earnings growth next year, and it sells for just under 22 times next year's numbers," he said. "We want faster growth than that at a lower price."

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