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The best stock market day in 75 years will no doubt be followed by a less enthusiastic Tuesday session. But the good news is the international effort to thaw the credit freeze may have finally given the markets at least a temporary jolt of confidence.
The Mad Money host lays out his strategy to get this economy and market back on track.
After an exhausting week the Dow closed lower Friday to record its worst week ever.
From New York City to Indiana, the Wall Street crisis is hitting cities across the country.
Don't jump back into the market just yet, though. Get Cramer's thoughts on Friday's action.
The US Treasury’s plan to inject cash directly into banks may be more effective in battling the credit freeze than having the government buy the banks' troubled mortgage debt ... provided the right banks get the cash.
The markets are extremely oversold, but it can't muster a rally. Why not? The Fed is doing everything it can; it will undoubtedly soon start taking direction positions in financial companies, and may even guarantee loans between banks.
Panic selling swept global equity markets again on Wednesday and dragged the Dow lower after a coordinated worldwide cut in interest rates failed to quell fears of a global recession.
Stocks closed lower after swinging wildly all day as a coordinated global rate cut failed to reassure investors.
The credit crunch and the Wall Street crisis are hitting smaller cities across the country, but none is as close to the action as Jersey City, N.J.
After closing at 1029, S&P Futures traded as low as 962 until the early morning, then rallied to as high as 1043 when the coordinated rate cut of half a point was announced, then moved all the way back down.
U.S. stock index futures turned positive after coordinated action to cut rates across the globe to fight the danger of the world economy being hit by a depression.
Nearly three weeks ago, regulators abruptly banned short sales of financial stocks to protect companies that had come under siege in the stock market. Short-sellers, critics said, had contributed to the declines by betting against the companies’ shares, the New York Times reported.
Stocks plunged in the final minutes of trading as comments from Fed Chairman Ben Bernanke failed to soothe this cranky market. The Dow Jones Industrial Average lost about 500 points, or 5 percent, breaching the key 9,500 mark. In the past two days, the blue-chip index has lost nearly 900 points. Bank stocks led the decline, with the S&P financial-sector index at its lowest point since May 1997.
Bank of America sold 455 million shares at $22 apiece Tuesday, raising $10 billion, a syndicate source said.
Some Merrill executives believe collateral demands by JPMorgan Chase pushed Merrill into the arms of Bank of America.
How discouraging was today's midday drop to traders? "Why even play?" one trader said to me. "This is what I call the 'P. Diddy market'...You'd save money by doing the Diddy: renting a yacht, and sailing it full of party people, come back in a month or two, and you would have saved money." Cynical, huh? But that's the way the Street has become...
Now that the Congress passed its big bad bill to save the economy or at least shore up the credit markets, attention is turning back to the crux of the whole problem; that being foreclosures.
Plus, Cramer offers his thoughts on NYSE, Bank of America and the Federal Reserve's attempts to save this market.
Stocks declined after a brief uptick as Fed Chairman Ben Bernanke seemed unable to soothe this cranky market for more than five minutes.