President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
"I'll tell you one thing: you wouldn't get these prices, no way. There's no way we'd actually pay just under $13 bucks for this thing in an IPO, even though the stock fell almost 15 percent today on what can only be considered hellish earnings," the "Mad Money " host said.
After a dismal post-earnings call in which management said business is slowing, Snapchat is lagging behind its competition and that the company had purchased more Spectacles than it thought it could sell, Cramer wondered how the social media giant amassed its $15.5 billion valuation.
"This is bush league, people," he quipped.
To Cramer, the worst confession of all was that 80 percent of Snap's ad impressions were being delivered programmatically, which uses algorithms rather than hand-crafted campaigns to place ads where people see them.
"Programmatic ads ... shred your margins and they never return to the old level because advertisers are just going to go where the algorithms say they can get the best results," Cramer said.
The "Mad Money" host saw this as a sign that companies were simply sampling Snap's platform at the time of its initial public offering, and now, realizing that it's not worth the investment, they are fleeing in droves.
Cramer was also concerned about CEO Evan Spiegel's announcement that Snap would redesign the Snapchat app. On the call, the CEO told listeners, "I look forward to surprising you."
"Jeez, that's the last thing we want from Snap, another surprise," Cramer said.
All in all, Cramer got the feeling that nobody was really holding management's feet to the fire, and that the company was banking on a vague "long term" theory to correct its losses.
"Some people always believe that," he said. "Nevertheless, in the stock market, sometimes bad is bad. Not only should Snap be worth much less than $15 and a half billion, I question, should it even be public? In fact, if they'd waited three more quarters to do the IPO — meaning right here — the stock likely wouldn't be anywhere near this high. With these numbers, you know what, it might not even have been able to come public at all."