9AM Hour: Framework for Peace Deal, Stocks Surge, Fox Buys Roku 6/15/26

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David Faber (1:00)

Market insight and analysis. You're listening to the opening bell of CNBC's Squawk on the Street.

Carl Quintanilla (1:11)

Good Monday morning, welcome to Squawk on the Street. I'm Carl Quintanilla with David Faber, Leslie Picker here at Post 9 of the New York Stock Exchange. Cramer has the warning off. Future spike as the US finally gets that MOU with Iran. A signing expected Friday in Geneva. Travel and leisure names get a boost. S&P could approach that all-time closing high right around 7609 Got a little merger Monday action today too. Oil tumbling here, lowest since March 4th. West Texas briefly below 80, December delivery 75

Our roadmap begins with the US and Iran reaching an agreement on a deal to end the war and reopen the Strait of Hormuz as the president makes his way to Europe for the G7 Summit.

David Faber (1:48)

Plus, we are watching shares of SpaceX. They are slated for a higher open, what would be its first full day of trading this, of course, after that record setting debut. And Fox is buying Roku, 160 bucks a share. It's worth about $25 billion, the cash and stock deal. We're going to break down the reasons behind it and everything else.

Carl Quintanilla (2:09)

Let's get right to the US and Iran, though, reaching this peace framework with the signing ceremony set for Friday. Vice President was on Squawk last hour to break down the agreement.

JD Vance (2:19)

What this deal does fundamentally is two things. It immediately reopens the Straits of Hormuz. We're already seeing in the past 24 hours more traffic flow. You see oil prices coming down. But you also have the long-term commitment that Iran will never develop or procure a nuclear weapon. Those are two very big wins for the American people.

Carl Quintanilla (2:38)

A lot of unanswered questions, of course, about namely some text, which we hope to get in the coming days, how the Israelis respond and a lot more.

Leslie Picker (2:46)

Yeah, a lot of open-ended questions here, particularly, you know, against this backdrop of the G7 happening.

You know, those leaders also haven't seen a text of this. So how much that will play into the discussions that take place over in Europe is an open question. Also, Israel, to your point. How they respond. There were some reports out there that Prime Minister Netanyahu had been seeking a meeting with President Trump, kind of an urgent meeting with President Trump, even over the phone, as a result of this. So, you know, a lot of unanswered questions is it, you know, does it turn out to be more of an extension of the ceasefire, especially as the, you know, nitty-gritty details of nuclear, ballistic missiles, you know, proxy groups in the region. Have those all been been formalized as part of this? It's unclear at this point in time.

David Faber (3:36)

Of course, what we keep an eye on the financial market, it starts right there with energy and crude. You can see down over 5 percent. But Carl, I mean, you followed this closely, the comments that we've continued to get from the likes of Chevron and Exxon executives at both those companies around inventories. And even if the Strait is fully reopened quickly, still concerned, and there it is, the Journal writing it up again today, about those dwindling stockpiles and what that will ultimately mean for oil prices through the summer into the fall.

Carl Quintanilla (4:06)

Yeah, we had Mike Worth making comments, I think as late as Friday, on just how dangerous inventory levels could get if nothing happened by the end of, say, July.

Maersk is on the tape today, saying no change to their mid-East operations, at least in the near term, although they clearly welcome this memorandum. And then Reuters has a piece out today saying, it could take weeks just to clear the straight of minds. So you're dealing not just with the geopolitics, but the business decisions amongst insurers and shippers and sailors to see who wants to go through this straight first.