In fact, JPMorgan Chase's vice chairman wasn't exactly enthusiastic about the economy either. Cramer reacts to both and offers plays on cheaper gas.   Read More

This stock offers both turnaround and potential takeover returns, Cramer says.   Read More

Stocks briefly lost a little bit of steam as Fitch downgraded the state of California's long-term general obligation bond rating to "A-" from "A" and placed the bonds on Rating Watch negative "based on the magnitude of the state's financial and institutional challenges and persistent economic and revenue weakening."    Read More

Stocks have been quietly moving to the upside all morning...the general take is that despite vigorous questioning Mr. Bernanke is holding up well in his principal claim: that he did not threaten action against Bank of America CEO Ken Lewis or the bank's board if they abandoned the Merrill takeover, and more importantly insisted that his actions helped avert a global economic meltdown.    Read More

Ben Bernanke's 10 AM ET testimony dominates trader talk this morning, and as one trader observed, "Nothing good will come from this."    Read More