Federal Reserve Vice Chairman Stanley Fischer said that the central bank must remain vigilant while monitoring the market for signs of instability. 

"While significant progress has been made in recent years toward making the financial system more stable and resilient, we should not ever be complacent," Fischer said in a speech to an International Monetary Fund workshop, according to Reuters. 

Fischer also acknowledged that certain parts of the financial system like the shadow banking system and potential subprime auto and student loan bubbles deserved extra scrutiny.

What's Hot On TheStreet

Another bank is bullish on Alibaba: JP Morgan initiated Chinese e-commerce giant Alibaba (BABA - Get Report) with an overweight rating and $190 price target in a new note Tuesday, representing more than 30% growth over Monday's closing price of $142.73. In JP Morgan's eyes, Alibaba is entering a transformation from a pure play e-commerce company to a data-driven beast that stands to power its bottom line more than most expect.

"We believe Alibaba's core commerce is expanding from traffic monetization to data monetization and such trend will quickly expand to its media/cloud businesses," writes JP Morgan analyst Alex Yao. "Such expansion not only allows Alibaba to tap into non-transaction-based corporate budget (e.g. market research, brand awareness, and customer service), but also supports our investment thesis based on sustainable revenue/earnings growth."

A key Walmart business springs back to life: Walmart (WMT - Get Report) is starting to see long-awaited sales growth at its U.K. Asda division as Britons shift their shopping habits towards food purchases with a slump in consumer confidence and surging inflation, TheStreet's Lisa Botter reports. Sales at Asda rose by 2.2% for the 12-weeks ended June 18, well ahead of the 0.9% pace notched in the 12 weeks to May 21, according to new data from research firm Kantar.

Different strategies emerge in driver-less cars: Alphabet Inc.'s (GOOGL - Get Report) deal with rental car giant Avis Budget Group Inc. (CAR - Get Report) to have Avis manage some self-driving test cars developed by Alphabet's Waymo unit and Fiat Chrysler FCAU feels a little overblown, writes TheStreet's Eric Jhonsa. The deal only covers test cars deployed in one metro area (Phoenix, Ariz.), and isn't exclusive, Jhonsa points out.

Meanwhile, Apple Inc.'s (AAPL - Get Report) deal with Avis rival Hertz Global Holdings Inc. (HTZ - Get Report) feels even smaller. Apple, which has reportedly been testing a half-dozen self-driving cars around the San Francisco Bay Area, is just leasing a small number of Lexus RX450h SUVs from Hertz, with the idea of retrofitting them with self-driving test systems.

Either way, Jhonsa says both deals represent quite the contrast with what Tesla Inc. (TSLA - Get Report) is trying to pull off. Elon Musk seems to want to go it all alone.

Apple and Alphabet are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL and GOOGL? Learn more now.

Visit here for the latest business headlines.