Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The announcement for Target also comes on the heels of a strong quarterly earnings report, where it showed it drove more people to stores and got them to spend more money...Retailread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The market sell-off has reached the "emotional stage" and investors should begin scouting opportunities to buy stocks, CNBC's Jim Cramer said Wednesday.
The three major U.S. indexes all declined less than 1% during the trading day as traders confidence in stocks as an asset class, he said. That makes it a good time to get ahead of the curve and reenter the market at discounted prices, he said.
"Now that people are really freaking out ... I think it's time to start picking up stocks into weakness. That's not cheerleading, it's discipline," the "Mad Money" host said. "So if you've got some cash on the sidelines, I think you can possibly begin putting it to work. But slowly and surely, and not with a degree of gusto because it's not warranted."
Emotions have overtaken the market, Cramer said.
Take Johnson & Johnson: In the first day of a high-profile trial, Oklahoma state prosecutors blamed the company for playing a role in more than 46,000 opioid-related deaths over a decade. In response, shares of the pharmaceutical giant plummeted more than 4% during the session.
Cramer argued, however, that Johnson & Johnson was a much smaller contributor in the country's opioid epidemic, including the state of Oklahoma. The "real bad actors" were Purdue Pharma, which downplayed how addictive its OxyContin drug was, and Teva, which sells painkillers, he said. The two companies settled with state prosecutors for $270 million and $85 million, respectively, in recent months.
Johnson & Johnson, whose involvement was much smaller than the aforementioned drug makers, lost about $15 billion of market share Wednesday. The "pullback has become ridiculously overblown," Cramer said.
"To the worn out and despondent, JNJ's become yet another nightmare," he said. "But to me, the decline here is simply another buying opportunity, even as I accept there could be more downside from frightened investors."
Workday, which tanked nearly $10 per Wednesday, suffered a similar overblown fate, Cramer said. The cloud software firm reported a "fantastic" quarter on Tuesday — the best out of Cramer's "Cloud Kings" stock group thus far, he said. The company picked up more business with Cisco, Geico, Procter & Gamble, Siemens and Airbus, he noted.
"This pullback was totally predictable. The stock had run up dramatically going into the quarter — it was cruising for a bruising, even with great numbers," Cramer said. "But today's action sends a chilling message: Even if you shoot the lights out [and] do an amazing job, it won't matter, your stock is going to be sold."
Disclosure: Cramer's charitable trust owns shares of Cisco and Johnson & Johnson.