The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.Bondsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Jim Cramer knew that part of the market was becoming too hot to handle. All the froth in the biotech sector last week tipped him off, and despite all of the flack he received over it, on Friday he made a bold call to advise investors to not buy biotechs.
Sure enough, turns out the "Mad Money" host was right.
Now, he's making another bold call—the whole market is too hot to handle right now. He compared it to eggs on a griddle that is so hot that nine seconds delivers a perfectly cooked sunny-side up, but 10 seconds renders a burned mess.
"This week we're witnessing the results of a griddle that hot, too hot, a genuine inferno, and those eggs are now charred beyond all recognition," Cramer said.
In Cramer's perspective, he is seeing that the market leaders are retreating, especially in the biotech and tech sectors. Even the industrials are starting to pull back, thanks to a weak durable goods number released on Wednesday.
But what really freaks Cramer out is not the decline in technology or industrials. It is the biotech area that concerns him the most, because it is so overextended.
The "Mad Money" host thinks this is just a typical rotation, aided by the merger announced between Kraft and Heinz on Wednesday.
So what do you do next?
Chill out! Cramer thinks that sometimes you need to step to the sidelines and let the market cool off. Take the time to hydrate, and wait while a new rotation is created.
"We need to see the momentum names stop going down and even start to bounce before it's worth starting new positions in the groups that are a part of this conflagration. They will tell you what to do," Cramer added.
Read more from Mad Money with Jim Cramer
Cramer Remix: Can Twitter keep climbing?
Cramer: The stocks that could trigger a rally
Cramer: Airline tech in focus after tragedy
Another important point that Cramer wants investors to know is that the analysts on Wall Street have become your enemy. Many of them have also been riding the momentum wave, and let everything ride. Now they are being put on the hot seat and feel pressure to do more downgrading, which will create an environment of panic.
So at the end of the day, the "Mad Money" host doesn't see any bulls that are worth following at the moment. The best leadership stocks are all in bear territory right now and need to cool off.
"Remember, the griddle does get too hot at times and when that happens, you need to take something off the table before it gets incinerated," Cramer said.