Earnings season is back.

Jim Cramer weighs in on the U.S.-China trade talks and Nike's (NKE) - Get Report earnings. 

U.S.-China Trade Talks 

The U.S.-China trade talks were in focus in Cramer's Real Money column Tuesday morning. 

"What really happened on Friday with the Chinese and Montana? Why did it come out that the Chinese cancelled the meeting with farmers in Bozeman when it actually was Treasury Secretary Mnuchin, as we learned on Monday in an awkward press conference with the president?" Wrote Cramer. "If you roll back the tape, the Dow Jones Industrial Average was up about 25 points when the news came out. The Dow then plummeted from 27,157 to 26,949 almost instantly because if the Chinese did indeed cancel the farm visit along with a second visit to Omaha, then things really were off the rails."

So is this kind of market action justified? Jim Cramer breaks it down:

Nike's Reporting After the Bell

Real Money Stock of the Day Nike is slated to report earnings after the bell Tuesday. 

One key thing in focus for investors? China. 

Nike is expected to report adjusted net income of $1.1 billion, or 70 cents a share, on sales of $10.4 billion after the market closes on Tuesday, based on a FactSet survey of 25 analysts.

So, what does Cramer think of Nike ahead of its earnings?

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