9AM Hour: Midpoint for the Markets: Bulls Rule Q2 and the 1st Half 6/30/26

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Carl Quintanilla (0:53)

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 Tuesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with David Faber. Jim Cramer, you're back.

Jim Cramer (1:06)

You bet I am.

Carl Quintanilla (1:06)

Gone too long, man.

Jim Cramer (1:08)

You bet.

Carl Quintanilla (1:08)

Welcome back to Post 9 of the New York Stock Exchange. Bulls putting a bow on Q2 today, wrapping up the best quarter since 2020 We're gonna look ahead to Q3. We'll get Joltz and Nike earnings tonight.

Oil holding 71 Some conflicting views about whether there'll be any meetings today in Doha. Meantime, the president warns of big problems for retailers who don't lower gas prices. Our roadmap begins with a major indices set to notch their best first half since 21, led by the Nasdaq, up 11 since the beginning of the year.

David Faber (1:38)

Meanwhile, an energy oil is set for what will be its steepest quarterly loss since 2020, this as US envoys arrive and cutter for possible talks with Iran. And the big banks, they rallied in the second quarter, at least most of them did. One firm are downgrading Morgan Stanley and Golden Sachs.

SPEAKER_6 (1:57)

Wrong whole time.

David Faber (1:58)

Yeah, exactly.

Jim Cramer (1:58)

Wrong whole time. But that's all right. Everybody has a right to be wrong. I checked the constitution.

David Faber (2:02)

They're telling people that investors should redeploy those funds into alternative asset managers which as we know have been hit very hard on continued concerns around private credit. So that group of the financials has not performed. Welcome back. You can talk now.

Jim Cramer (2:17)

Well, no, I'm sorry about that. I just felt like interrupting you because you're wearing two suits today and I like that look.

David Faber (2:22)

Nobody can tell except you.

Jim Cramer (2:24)

Well, I'm mesmerized by it. M&A, oh, look at this. M&A rebound likely delayed or canceled Oppenheimer.

SPEAKER_6 (2:31)

Oh, no. It's March 19, 2025

Jim Cramer (2:35)

Downgraded Goldman at 557 Downgraded Morgan Stanley at 119

The stocks would have to split in order to be able to reach that price target.

Carl Quintanilla (2:43)

Yeah, we're going to talk about that call out of Oppie on the banks' earnings a couple of weeks away. Let's talk about the markets though going into the final session of the half, of the quarter of June. We are on pace for our best quarter in six years. Micron, Sandisk, Intel, Marvell are all on track to post-record setting quarters. Same for Dell and Seagate. AMD actually best quarter since 75

Western Didge best since 2001 Jim, it's all really all about the chips for the quarter.

Jim Cramer (3:10)

Well, it's about the chips that frankly that went up in price that are scarce.

So, I mean, this is a market that's led. I mean, look, let's just face it. We've got the same winners in this quarter. It's Micron, which we have on tonight. I have Sancho Morotra. I got him. Wait, I'm not even mic'd up. I got him for two quarters. I mean, for two segments, because it's not...

Well, I mean, he's the most important guy. He's putting more people to work in America than anyone. Congratulations. Sandisk, they haven't put a lot of people to work. Intel, which we got to talk about, because, you know, I think that's a major comeback. Marvell, which is Matt Murphy, they put together an optical business with Connector. And then AMD has got GPU and CPU. The companies that are winning are the companies that have shorted, the companies that are losing are the companies that have to pay more than they thought, including Mag-7.