Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
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Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Nobody wants another financial crisis, but CNBC's Jim Cramer knows that the bank cohort has been utterly squeezed by the strict regulations placed on it during the Obama administration.
But one Fed newcomer could change that, Cramer argued. President Donald Trump's nominee for the central bank's board, Randal Quarles, will take over as the Fed's vice chair of supervision.
"And while you can argue about the merits of deregulation, one thing is clear: Quarles is going to be fabulous for those of you who own bank stocks," Cramer said.
Quarles' confirmation hearing at the Senate laid plain the policymaker's positions. Quarles told Congress that Dodd-Frank, the financial legislation enacted in response to the 2008 recession, "undoubtedly" needs "refinements."
Federal stress tests, which determine if a given bank is able to withstand financial collapse, should be more "transparent," he said.
Moreover, the former Bush administration under-secretary for domestic finance worked in private equity for years with specific exposure to long-term private businesses, something Cramer said would give him better insight into the workings of small businesses.
"Why does all of this matter? Let's put it together," Cramer said. "If the banks no longer have to guess what the examiners want from them in the stress tests, if they're allowed to increase their dividends as they think prudent, and if the Fed gives us a normal series of rate hikes, they'll make investors fortunes."
With every interest rate hike, banks' dividends, stock buybacks and earnings per share will rise, and provided all goes accordingly, money managers are likely to flock to the bank stocks as they rise in tandem, Cramer explained.
"If the banks get another leg up, I bet we'll see a nice pop in the broader market. These stocks are gold-star leaders," the "Mad Money" host said. "We'll know shortly: if JPMorgan and charitable trust fave Citi[group] behave well after they report on Thursday, they'll be magnets for money and a whole new group will be ready to roar. "