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As tensions might drag over the next decade, investors have to learn to operate under prolonged uncertainty, said Warburg Pincus' Charles Kaye.World Economyread more
U.S. Vice President Mike Pence on Thursday struck an unyielding tone on America's position in its trade war with China.Delivering Alpharead more
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Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
New research suggests fewer girls pursue careers in STEM — science, technology, engineering and math — because they're better than boys at reading.Closing The Gapread more
Stocks in Asia Pacific edged up on Friday as investors digested a series of developments overnight on the U.S.-China trade front that dampened hopes of a deal being reached...Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
How did it happen? How did the market break down so badly, and then have a little bit of a rally at the end of the day on Wednesday?
Jim Cramer thinks that what happened on Wednesday was not about the market news, and has more to do with how large money firms dealt with the sell-off and the flawed mechanics of the market. What happened on Wednesday was not about the market news, and has more to do with how large money firms dealt with the selloff and the flawed mechanics of the market. Cramer has indeed been in the trenches, and knows it can get nasty.
Remember the 10-point checklist that Cramer shared on Monday of what needs to happen in order for the economy to have a sustainable rally? It seems like we may have taken a step backward instead of forwards on that checklist.
Instead of Ebola being contained, now a second healthcare worker has contracted the disease. Then out of nowhere, the drug company Abbvie decided it might drop out of the bid for Shire. That is a big deal, because there are large firms that borrow a huge amount of money to buy takeover stocks. That means the margin clerks of the lending firms are now calling banks telling them they need to put up more collateral.
Then interest rates on the 10-year Treasury fell below 2%. Investors were freaked out because they thought the economy was doing better. Now those hopeful souls were crushed as well. The market then tried to advance further towards the bell, but was whacked when Wal-Mart cut its growth forecast.
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The only welcome sign of the day was that with all of the margin selling out of the way, the rally at the end of the day was led by the hard-hit transport and oil stocks. (Though those stocks ended up failing too, with a few lucky gains in technology and healthcare).
"We sure got a whoosh down and we rallied from it. That is a good sign. We are oversold," said Cramer.
"This market is guilty until proven innocent and remains treacherous until the bigger issues are ultimately resolved," Cramer added. He thinks that we will see more selling next time there is a bad earnings report, Ebola outbreak, foreign rattling, or oil drop. Until that time, investors nervously watch and wait for better days ahead.
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