9AM Hour: Big Week For Markets, NextEra-Dominion $67B Power Deal, Regeneron Tumbles 5/18/26

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Carl Quintanilla (1:00)

Market Moving Insight and Analysis join Jim Cramer, David Faber and me, Carl Quintanilla on the opening bell hour of CNBC Squawk on the Street.

Good Monday morning, welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. Pre-market is improving here as oil drops on some reports of a revised proposal from Iran that calls for a multi-stage truce. Brent was 110 an hour or two ago. Futures slipped positive, bond yields lower after the biggest jump for the 10-year yield on Friday and more than a year. Big week ahead with Nvidia and Walmart earnings ahead of a long weekend. A roadmap begins with rising mid-east pessimism, some say. As the president says, the clock is ticking. Nvidia, Walmart, Home Depot earnings are on deck. And a SpaceX IPO prospectus potentially dropping in the coming days.

David Faber (1:51)

Plus, we've got the largest power deal on record. Dismiss, of course, the booming data center, energy demands. NextEra is buying Dominion. It would create the world's largest electric utility, $66 billion in stock.

Also, keeping an eye on services for Regeneron, they are down ahead of the open. The drug maker reporting it's treatment for a skin cancer missed its goals. That in a late stage trial.

Carl Quintanilla (2:18)

Let's begin with this new trading week for the markets. S&P and Nasdaq coming off their worst day since late March. Meantime, 10-year, 30-year yields have been at highs. Not seen in about a year, Jim. Once again, that's a global story. Japan 10-year, 2.7 today.

A lot of talk about some repatriation might come at the expense of treasuries.

Jim Cramer (2:37)

Right. I mean, we're beginning to get the kind of Warsh better look out. The Fed chief better look out. He better not stay easy. Maybe they have to go to a neutral position.

The inflation worldwide is causing a problem. David, I find all of this to be a little soporific. And the reason why I do that is because every morning, you know, the president will say, listen, the clock's ticking, right? I mean, he's double overtime. Triple overtime, I don't know what he's got going on. And then we hear something which says, well, maybe there's something where there's like something. And then the oil goes back down, and then we like have the futures go. And this has gone on now for weeks. For weeks. Which then makes you default to the data center because there's nothing to do with anything that's going on.

David Faber (3:21)

I concur.

Jim Cramer (3:22)

You do?

David Faber (3:22)

I do. I concur.

Jim Cramer (3:23)

Do you like how, you know?

David Faber (3:25)

I don't know at what point decisions need to be made somehow that are more, in terms of investors' minds as well or when the rough, the closure more or less of the straight of Hormuz starts to really impact things in a way that gets investors' attention, Jim. But it hasn't seemed to have happened yet. It's just the back and forth that you described.

Jim Cramer (3:46)

Well, it looks like that this is crunch time. I was listening to my old friend Dan Jurgen today, who's an expert in oil and gas. He's saying this is it.

I also find that there are lots of people who say, if you look at Asia, Asia is really, this is like they're out of the reserves. They're about to really get hurt. Natural gas is going up. And then there's us, which we're in pretty decent shape.

David Faber (4:10)

We're exporting an enormous amount of natural gas, certainly, and some oil. And by the way, when I say the market not paying attention, obviously, Carl, we've seen the reversal here just based on hope again. So it's not as though investors aren't paying attention, but you've been following this pretty closely in terms of the potential impact and what everybody's talking about.