Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday morning as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.Europe Politicsread more
"Because he's promised a rate hike, [Fed Chair Jerome Powell] risks stirring a wave of fear if he doesn't tighten," Cramer said as stocks fell on weaker-than-expected jobs results and trade worries. "Investors will start presuming that something must be wrong, very wrong, that things are worse than they thought."
But even if the central bank decides that it's worth taking a more data-dependent approach after the weaker jobs data, its chief has put himself in a difficult position with his recent statements, Cramer said.
"No one wants the Fed to tighten going into a slowdown, especially when we might be in a tariff war around the globe. People want the Fed to be flexible. Thanks to his previous comments, though, Powell's in a lose-lose situation," he said, pointing to Powell's remarks that interest rates were "just below" where they should be.
"It would be wrong to tighten, but if he doesn't give us a full quarter-point rate hike, it will cause a panic," the "Mad Money" host said. "I hate to say it, Mr. Powell, but, here goes: I told you so."
In fairness, Cramer said he "totally" understood why the Fed would raise interest rates this month, citing still-strong Purchasing Managers' Index reports, healthy retail sales and close-to-full employment.
"The fact is, though, the economy's slowing and the stock market sure shows it. [...] That's why it's so skittish," he explained. The major averages have endured drastic intraday swings this week as investors fretted about a host of economic pressures, including but not limited to the U.S.-China trade dispute.
"Maybe a creative Fed chief could square that circle by holding off on a rate hike, but maybe selling some of the long-term bonds that they've been sitting on since the financial crisis — a different kind of tightening that would fix the inverted yield curve situation," Cramer said. "Although, ... ideally, you don't want any tightening and the Fed would simply sit tight."
All things considered — including the index turning negative for the year — investors should prepare for more market swings in the coming weeks, the "Mad Money" host warned.
"I think we're going to have to slog through these volatility sessions for a bit, as there are all sorts of difficult crosscurrents here" including U.S.-China trade relations and the weakness in shares of stock market bellwether Apple, he said.
"And, of course, an errant Federal Reserve that's backed itself into a corner when it comes to the next rate hike," he added. "Get used to these crosscurrents, because this is the new normal, at least for now."