9am Hour: Big Earnings Week, Tech Looks to Rebound, Gas Prices $4/Gallon on U.S.-Iran Tensions 7/20/26

**SPEAKER_1** (0:00)
The board recommends approving...

**Carl Quintanilla** (0:01)
Regarding that seat on the committee, we're promoting...

**SPEAKER_3** (0:02)
To most quarterly earnings...

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**Jim Cramer** (1:00)
It's Jim Cramer here. You're listening to the opening bell of CNBC Squawk on the Street. Don't miss a minute of the action.

**Carl Quintanilla** (1:15)
Good Monday morning, welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer at post nine of the New York Stock Exchange. David Faber has the morning off. NASDAQ 100 trying to break a three day losing streak and stabilize this momentum unwind. Cues haven't traded red for four straight sessions all year. Earning season heats up this week with Google, Tesla, IBM, Intel. Brent did hit 91 overnight. The US suffers its first casualties since the early days of the Iran conflict. And now the Houthis in Yemen announcing a maritime ban on the Saudis.
Our roadmap begins with the street looking for a bounce at the open after chip stocks notched their worst week in more than a year. Big test on deck for the tech rotation trade. Alphabet and Tesla among the headline are set to report this week. And oil right around the flat line, as Iran says talks continue through mediators. Gas prices will get back to $4 average today.
Let's begin with the markets though, after a number of tech names are saying good riddance to last week, they include SpaceX in the midst of that six day losing streak after falling further from the IPO price of $135. Stock heading into the week down more than 45% from the high after its June debut. Microsoft Broadcom, Tesla rounding out the trillion dollar club.
We talked before the IPO, Jim, that IPOs draw down usually about half, the big ones.

**Jim Cramer** (2:31)
Yeah, look, I'm reluctant to say anything really negative about SpaceX, because like Tesla, they're true believers, and they're just not going to be dissuaded by the action of the stock. There are also people, I met someone again this week who said, look, I have 40,000 shares for something I got, and they told me they stopped me out. They sold it at 134 You typically don't have these deals where there was so much stock. I mean, you see these ads all the time, and say, listen, if you want to know, these companies stay private longer. I find a lot of people own the stock, and there was a lot of, you know, a lot was distributed or people bought, and you find that they don't want to see their gains lost. So that's, I think, some of the selling. I'm coming at this from a totally different way, though, and not SpaceX. That's separate, because the people who believe in SpaceX, that's a 10-year, no one ever says less than 10-year.
All this stuff, say, with DeepSeek, and all this stuff.

**Carl Quintanilla** (3:32)
Moonshot. We didn't get your take on that Friday.

**Jim Cramer** (3:36)
All these things do is make it so, I want to own JP Morgan.
I want to own Union Pacific.
I want to own JB Hunt. What goes on when you see these, and I know the stocks are all up, and the microns up, there's heaps of missiles going against them. I mean, Seagate was up on Friday, but when I saw things like Wells Fargo go down, and then come right back, I say to myself, what the heck do I need this tech for? I mean, any given minute, someone's going to say, I'm selling, Matt has got to sell right now 100 million shares. I don't want that. If I can get into another company that does not have tech, I want it. I don't want food. Now, obviously, there was an obituary written about food in the journal, and that's fine. But I just feel like, what do I need this for? And I compared it in a piece that I did on Sunday that came out after Brazil won, Spain won, whoever. I mean, I'm watching this stuff, and I'm thinking, who are these guys?