President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Jim Cramer says the market got the news of a Brexit all wrong. What was once regarded as a catastrophe for stocks was actually just what would push the averages to new highs on Monday.
"What was widely hailed as a disaster, something that the alarmists explained to us was the end of the world, turned out to be the best thing that could have happened to our equity markets," the "Mad Money" host said.
Britain's vote to leave the European Union was the big unforeseen event that many investors weren't ready for. It was also widely not understood. Therefore, hedge fund managers who did not understand the issue pulled out of stocks because they thought they were on the wrong side of the trade, which triggered a massive wave of selling.
It turns out the Brexit was actually a blessing. The event prompted interest rates to fall lower than otherwise expected, and it put the Federal Reserve on hold. That meant the bond market competition from stocks and demand for loans simply went away.
"Yes, Brexit was good, not bad for our markets," Cramer said.
While the rest of the world may be slowing, the U.S. is accelerating. The jobs report on Friday reiterated this acceleration not only with a large number of jobs, but it was also positive because the Fed is still perceived to be on hold because of Britain.
Investors also stopped valuing stocks on earnings or worth once the Brexit hit. But when Mondelez made a thwarted takeover bid for Hershey, that showed that corporate buyers were stepping up to the plate.
"This was extraordinary and totally unexpected, especially because so much big money had gotten short after Brexit. Suddenly, not only were they being hurt by the rising averages, but takeovers were happening when they were least expected," Cramer said.
Cramer also came to a realization that regardless of whether Hillary Clinton or Donald Trump wins in November, it could be better for stocks than the current administration, as he views both candidates as business friendly.
"The simple fact is that the market is getting its head around both candidates and the market likes what it sees, as crazy as that might sound," Cramer said.
Ultimately, the Brexit event set off a positive chain reaction. While Cramer doesn't doubt that there will be pitfalls during earnings season, he does now think that after a transformation like this one, investors finally have the confidence to buy on weakness next time the market falls.