The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
There was no sugar coating it — Friday was a nasty day. Jim Cramer once again considered the market to be pure crazy town, with lower oil prices bringing stocks down. That seemed completely counterintuitive, as cheap oil should be like a tax cut for investors. But Cramer is still concerned.
"Those big institutions who sell stocks off the falling price of oil are thinking that the lower petroleum goes, the more likely it is we will have big defaults in the high yield bond market," the "Mad Money" host said.
This concept took a tone of urgency on Friday when investors learned that Third Avenue Focused Credit Fund barred redemptions because the market for junk bonds was too illiquid. This proved to Cramer that these types of junk bond funds are proving to be disastrous investments, and he reiterated his view that investors should never risk their principal just to get a little extra yield.
"I've urged you never reach for yield since the show began. I reiterate that admonition," Cramer said. (Tweet This)
With this in mind, Cramer went down the list of stocks and events he will be watching next week:
Monday: Fund Redemptions?
Cramer will be on the lookout for more stories about mutual fund redemptions. He anticipates that this will dominate the headlines because financial advisors may call their clients to urge them to sell junk bonds.
Read more from Mad Money with Jim Cramer
Tuesday: 3M analyst meeting
This company certainly needs a better economy worldwide than what it has right now. However, 3M is so well-run Cramer is willing to hold this stock as a core portfolio position in his charitable trust.
Wednesday: FedEx, Fed decision
Fed decision: If the Fed decides to tighten and there is a big sell-off, Cramer recommended picking up Accenture and General Mills near the close. Both have put up great numbers and rarely come in. He likes them both ahead of their Thursday quarterly reports.
Thursday: Delta analyst meeting
Cramer is interested to hear what Delta has to say as the airlines have taken a beating recently over terrorism fears and a weak economy. He anticipates Delta will have positive commentary, but warned to be careful for those who own Boeing since Delta is prone to mentioning a glut of wide-body planes.
Ultimately, Cramer is not sanguine about the stock market right now and thinks it is time to do some selling and lock in some gains. He is concerned about the high yield bond fund debacle and a Fed rate hike into a slowing economy.
"We are still very close to the highs, which is why I recommend locking down some gains and raising some cash. You might need it," Cramer said.