The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, canceling another 1,290 flights.Airlinesread more
Trade could be a big factor for markets in the week ahead, but investors will also be attuned to fresh inflation data and the bond market, which is flashing new worries about...Market Insiderread more
Mississippi is one of several states that have moved to pass new restrictions on abortion this year.Politicsread more
Market pessimists love to rally around overseas market drops and squawk about how they'll take down U.S. stocks, but often times, the other side of the trade ends up winning out, CNBC's said Wednesday.
"Whenever you see these contagion stories, unless there's some direct connection to the U.S. banks — and there rarely is — you need to treat these pullbacks as buying opportunities," the "Mad Money" host said.
Cramer began by reevaluating the recent turmoil in Turkey, during which President Tayyip Edrogan seemingly challenged the independent nature of Turkey's central bank as it tried to stabilize the slide in the Turkish lira.
The lira's initial decline was caused in part by U.S. President Donald Trump escalating tariffs on Turkey, which, combined with the central bank's action, set the bears into a frenzy centered on how the currency crisis could affect U.S. securities.
But "the thing about Turkey is that it's kind of been a slow motion train-wreck for ages," Cramer said. "The iShares MSCI Turkey ETF plunged from $46 in January down to $26 coming into August, so it was hardly news that the sick man of Europe was in trouble. "
Even so, the bearish panic sent the Turkey ETF down from $26 to $19 in the second week of August. At the same time, the Dow Jones Industrial Average fell roughly 500 points.
"I warned you here that it would be a buying opportunity, " the "Mad Money" host said. "Of course, this latest Turkish crisis turned out to be totally overblown, just like all the other recent crises. Instead of contagion from Turkey, you caught a beautiful bottom in the Turkish stock market, [with that] ETF rallying back to $23."
Investors with conviction also managed to catch a recovery rally in the Dow, which has rallied over 1600 points since the Turkish market bottomed, he said.
But what frustrated Cramer most was the fact that the bears got out unscathed after starting all this panic. And, despite the fact that Turkey's crisis is now worsening, they've moved on to warning about how Italy's budget problems could hit U.S. markets.
"Sowing fear is just so easy to do. It's always news when someone says the banks could be in danger, isn't it?" Cramer said. "Beware the bears; their righteous indignation will almost always lead you astray — Turkey, Italy, who knows what's next? No one ever calls them to account for being wrong."
So the next time you hear about how some exogenous worry in a foreign market will directly affect your holdings in the U.S., think twice before you ring the register, the "Mad Money" host suggested.
"I say we quarantine these guys when they scream contagion. They don't deserve the platform," he said. "Unfortunately, many journalists love controversy, which is why they'll never let these bogus bearish stories go to waste. The best you can do is prepare yourself so you know what to do the next time someone starts shouting 'contagion' in a crowded theater."