Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
The U.S. and China have imposed tariffs on billions of dollars' worth of one another's goods since the start of 2018.Traderead more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
China is reducing support for its electric carmakers a move experts and industry insiders warn could lead to consolidation and waning investor appetite. But some of the...Technologyread more
Is your CEO on the list? Glassdoor has the results.Power Playersread more
Joseph Gaspar, the chief financial officer at Elbit Systems, said M&A among firms in the sector began to pick up pace in the 1980s and looks set to continue.Paris Air Showread more
Stocks in Asia rose on Wednesday following positive developments overnight on the U.S.-China trade front.Asia Marketsread more
The U.S. Department of Defense has hit back at Russian officials who have criticized a U.S. plan to deploy more troops to the Middle East.World Politicsread more
Indigo Partners is to use the A321 XLR jets across airlines it runs out of the United States, Chile and Mexico.Paris Air Showread more
Signs of companies moving out of Hong Kong have emerged, members of the business community told CNBC following massive protests in the city. But one analyst said Hong Kong's...China Politicsread more
In this strange moment for stocks, investors should hope to see bad news about the economy, CNBC's Jim Cramer said Tuesday after the major averages traded sharply higher following weaker-than-expected economic data.
"Bizarrely enough, the best thing for this market would be getting some disappointing news from the non-farm payroll report on Friday," Cramer said. "At this point in the business cycle, the point where the Fed is chomping at the bit to keep tightening, we actually want bad news. "
The "Mad Money" host's reasoning was simple. The Fed is bent on raising interest rates once more in December and three more times in 2019, a plan that Cramer has argued could slow the U.S. economy.
But if the central bank's leaders were to start seeing more muted economic data, they might consider pausing their aggressive rate hike agenda and using the data to decide when to raise rates.
Cramer pointed to Tuesday's S&P Case-Shiller 20-city housing index, which rose 0.1 percent year over year, the lowest annualized increase in 20 months. That helped send stocks higher as investors weighed the possibility of the Fed standing down.
"You need to understand that every single piece of data is now being scrutinized through this good-news-is-bad-news prism, where weaker data now drives stocks up and stronger data sends us lower," Cramer explained.
At the same time, the Paychex/IHS Markit Small Business Employment Watch results showed increasing wages but decreasing job growth, meaning workers are getting expensive and companies aren't hiring as much.
"But before you get too excited, The Conference Board's consumer confidence index just rose to an 18-year high — some unfortunately good news that gives [Fed Chair Jerome] Powell more ammo, " the "Mad Money" host said.
Cramer's bottom line? For stocks to go higher, the Fed needs to continue being affronted with "definitively mixed" data that makes the central bank second-guess its rate hike plans and become more data-focused.
"That allows Powell to put his rate hikes on hold after the next tightening in December — which I favor — because if the economy's already slowing, then he can say, 'You know what? The data's weak. Let's wait and see,'" Cramer said. "The more bad news we get, the more fabulous days like [Tuesday] we can have. Powell and his colleagues just need to be willing to look at the data to make a more thoughtful, prudent evaluation."