President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
U.S. stocks are in a "bear market" not a correction, CNBC's Jim Cramer argued on Monday.
Cramer said on "Squawk Box" he's not using the traditional measures of a bear market and a correction to make his case. "Who cares about the S&P? It's individual stocks that are down 40 or 50 percent."
A bear market is generally defined as an asset or index decline of 20 percent or more from recent highs. The threshold for a correction is measured as a drop of 10 percent or more from recent highs.
"I have tremendous contempt for this market, because every time you try to make money with it, it cuts your heart out. That's a bear market. People don't want to call it a bear market. But what do they need?" Cramer asked, rhetorically.
"It's a bear market rally," he said. "You go down really hard last week. And then you come in on Monday and it's up a lot. People come in. They buy it and lose money."
After tanking nearly 3.8 percent last week, the recovered nearly a third of that decline shortly after Monday's open on Wall Street, lifting the index out of correction territory. The Dow Jones Industrial Average bounced more than 300 points, or nearly 1.5 percent, distancing blue-chips further away from a correction. The Nasdaq, despite similar gains, remained in a correction by a few percent.
"People come in at 250 [points higher] and get their heads cut off. I just feel ashamed," said Cramer. "It's very hard to be very positive about the market unless you're an idiot. Let it go up for three or four days and then sell some."
Cramer reiterated that he's been bearish on stocks since Federal Reserve Chairman Jerome Powell said early last month that interest rates were a long way from neutral. Powell's remarks touched off a market rout on concerns that central bankers will increase rates aggressively next year. Cramer has been calling on Powell to pause rate hikes, arguing the economy is weakening and inflation is not a problem.
In fact, Cramer warned last week that investors should sell their stocks if they think the Fed, as expected, will raise rates in December. The Fed already increased rates three times this year. After its most recent hike, in September, the Fed projected three rate increases in 2019.