"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
U.S. stock index futures turned lower after China said it needed to have further discussions before it would sign off on the so-called phase one trade deal President Trump...US Marketsread more
Analysts say the partial U.S.-China trade deal doesn't touch on thorny issues plaguing both sides, and warn talks could break down again.World Economyread more
Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
Economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the 2019 Nobel Economics Prize for their work in fighting global poverty, the Royal Swedish Academy of...World Newsread more
Boeing's board removed CEO Dennis Muilenburg as chairman amid the fall out of two 737 Max crashes that killed 346 people.Aerospace & Defenseread more
The U.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
"It seems like what the two leaders have done is try to set some of the thorny political issues to the side," said Dhruva Jaishankar, director of the U.S. Initiative at the...Asia Politicsread more
Beijing will be opening up its financial industry to foreign ownership from January, namely in the areas of futures, mutual funds and securities.China Economyread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
One minute the market it up, the next minute it is down. The market is volatile and brutal. Jim Cramer knows that seeing both ecstasy and tragedy occur in one day means this year is different territory. It's a trader's game.
"If this market were a person, we would be giving it twice-a-week sessions with a psychiatrist, along with some mood altering drugs to keep it a little more on even keel," the "Mad Money" host said.
And it is not just that the market has forgotten what happened in 2014. It now even forgets what happened in the morning and switches tune in the middle of the day.
After such a crazy session, Cramer emphasized the importance of realizing that this is a trader's market. To help navigate that kind of territory, he recommended two things:
No. 1 Find good quality stocks that you like and keep them on your radar. Examine them once a week, to make sure you don't get slaughtered.
No. 2 Take advantage of the volatile market and sell stocks when it opens big and then buy them back when it gets hammered.
So what was the good, bad and the ugly that contributed to such a volatile trading day on Tuesday?
Credit Suisse upgraded Apple to a buy, based on the strength of iPhone sales and a potential return of capital to shareholders next year. Likewise, Citigroup upgraded Amazon to a buy from hold based on positive sales. Cramer doesn't see the value in Amazon, but nevertheless it was gobbled up with anything that smelled like a high-growth stock.
Then the day took a turn downhill when KB Home admitted it had a softening in demand, which sent everything housing related down. Likewise, Costco was downgraded by Goldman Sachs to a hold from a buy.
Read more from Mad Money with Jim Cramer
Cramer Remix: Stay away from this stock
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Cramer: Time to ring the register on this hot biotech
The big whammy came when George Paz, the CEO of Express Scripts, told analysts that he would continue to find lower prices for customers for Hepatitis C, hammering the biotechs on price. Gilead, famous for its expensive Hep C drug, led the way for a biotech slaughtering.
"Take your pick, but recognize that if the morning doesn't know what the afternoon's doing and the closing bell doesn't look like it either, we've got a ton of work to do around these levels until we find some much-needed stability," Cramer added.