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How Resilient Is This Market? Jim Cramer on the Iran Missile Attacks, Oil and Retail

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We're halfway through the week.

The Situation With Iran

Late Tuesday night, Iran launched over a dozen missiles aimed at two U.S. air bases based in Iraq.

Following the attacks, there were no reports of any American casualties at either base

Iran's Islamic Revolutionary Guard Corps said it fired 15 missiles at two U.S. airbase installations in Iraq in retaliation for the drone strike Jan. 3 that killed Iranian General Qassem Soleimani.

The Pentagon released a statement from Assistant to the Secretary of Defense for Public Affairs Jonathan Hoffman confirming reports of the attacks on the U.S. military base in Iraq by Iran.

How's Oil?

Cramer's Real Money column Wednesday morning focused on oil.

"But we aren't seeing that happen. If you are a huge user of oil, you can lock in prices out five years that are much lower than they are today. They haven't budged much at all. Why? wrote Cramer. He had three reasons. for this.

But, with the headlines out of Iran leading the markets, let's focus on one key reason:

"World growth, no matter how strong or muted, seems to produce little-to-no increase in oil use. The world used only 800,000 more barrels per day last year than the year before. Substitution, conservation, preservation, you name it, you can tell when you have a wasting asset on your hands," Cramer continued. 

And Then There's Real Money Stock of the Day Macy's

Macy's  (M) - Get Macy's, Inc. Report posted better-than-expected November and December comps early Wednesday morning. 

The company reported that comparable-store sales for November and December fell 0.7% from the same period last year, well ahead of the 2.5% decline forecast by analysts that cover the mall-focused retailer. On an owned plus licensed basis, comparable sales fell 0.6%, Macy's said.

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