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
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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
The U.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread 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
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
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
Chinese President Xi Jinping warned on Sunday that any attempt to divide China will be crushed.China Politicsread more
Syria's Kurds said Syrian government forces agreed Sunday to help them fend off Turkey's invasion.World Newsread more
With the price of crude taking a nosedive after a tremendous run above $30, Jim Cramer wanted to get a sense about where major oil stocks could be headed.
"I'm a big believer in the lower-longer thesis — the idea that crude will stay down, likely for the rest of the year until he hedges expire at most of the American producers — but there's a lot of emotion invested in which way oil is going to jump," the "Mad Money" host said.
That is why Cramer turned to Robert Moreno, a chartist, publisher of RightViewTrading.com and a colleague of Cramer's at RealMoney.com. Specifically, Cramer was interested to know what the charts indicated for the large integrated oil and oil service plays if crude holds above $30.
Moreno looked at the daily chart of Exxon-Mobil and pointed out that the stock broke down below its 50-day moving average in early December, which sent it plummeting. It then went through an erratic period before rallying dramatically in a straight line for the last month.
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Moreno also noted that the Moving Average Convergence Divergence indicator, which helps technicians predict changes in a stocks trajectory, is tracking higher to reflect positive momentum.
However, Moreno worried that because the stock has rallied so hard lately, the overall volume has been declining. He interpreted the weak volume as an indicator that this run could be deceptive.
Overall, Moreno found that the technicals were sound for Exxon but is skeptical that the stock could continue to roar higher. Until the volume gets more positive, he suggested holding off.
Next up was Chevron, which was much more compelling for Moreno. Last week, the stock finally broke above a key level of $85 and is only a few points away from another ceiling of resistance at $89.
Moreno also found that the Chaikin Money Flow oscillator, an indicator technicians use to measure key levels of buying or selling pressure, was very positive for Chevron. He also liked that the stock has underperformed versus Exxon in recent months, and it could be poised to play catch up with Exxon.
"We have to remember one key thing. These charts may look good right now, but you need to remember that this can all change in the blink of an eye if the price of oil keeps going down, which could ruin everything," Cramer said.
If oil can hold above $30 a barrel, than the charts will remain bullish and Cramer thinks Moreno could turn out to be right — even as he is skeptical that it could.