A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Trump spoke "about how to get the rich to be even richer and therefore the poor will do better. Kind of a worldwide trickle down," Cramer contended.
Trickle down theory, popularized during the presidency of Ronald Reagan, maintains that cutting taxes, particularly for U.S. companies, will spur economic growth and help everyday Americans. There's been a fierce debate years, split largely along party lines, on whether it works.
Trump, the first sitting U.S. president in 18 years to address the annual conclave of the rich and powerful, said the U.S. was "open for business," casting the U.S. as a hospitable business environment, boosted in part by the corporate tax cut enacted by Republicans last year.
Cramer said Trump's speech was not typical of American leaders.
"I think he made a great sales pitch for America," said Cramer, the host of CNBC's "Mad Money. " "That's not what anyone has ever done at Davos."
Trump struck an inclusive tone, inviting other world leaders to do business in the U.S.
The president was saying, "'I'm with ya,'" Cramer said. "He's not saying you can't come to our place. He's saying you better come to our place."
Correction: An earlier version misstated the length of time since a U.S. president had spoken at Davos. President Bill Clinton did so 18 years ago.