9AM HOUR: Trump Touts Intel-Apple Partnership, Memory Crunch, Warsh’s Fed Debut 6/18/26

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David Faber (0:57)

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

Good Thursday morning and welcome to Squawk on the Street. We're live from the New York Stock Exchange, of course, in Lower Manhattan. And that's why you can look at those pictures as well, because in one hour, the New York Knicks will be honored with a ticker tape parade up the Canyon of Heroes this after winning the team's first NBA championship in 53 years. I'm David Faber. He's Jim Cramer, not a lifelong Knicks fan, unlike me. Carl has the morning off, but an exciting day here.

Jim Cramer (1:38)

Yes, it is. It's exciting to try to get into work.

David Faber (1:41)

Getting into work was something of a challenge in terms of crowd control, various subways and everything else. Of course, I do feel badly for people who are stuck in places where they're not going to be able to get that view our viewers are looking at right there. Makes me think perhaps they could have enlarged the parade route to allow more people because we're inundated. My subway trip down obviously was a lot more crowded than typical.

Jim Cramer (2:07)

You dress in the dark, honestly.

David Faber (2:09)

Well, I try to kind of have a nick color.

Jim Cramer (2:11)

I mean, do you think that someone's going to job for you?

David Faber (2:14)

I try to get a shirt that had some orange in it. I didn't do very well.

Jim Cramer (2:18)

No, not at all.

David Faber (2:18)

I didn't do very well.

Jim Cramer (2:19)

Anyway, just point that out.

David Faber (2:20)

Okay. But an exciting day here. We will sort of keep apprised of how things go.

They start down at the battery at 10 a.m., end up at City Hall.

Jim Cramer (2:29)

It's a very exciting day.

David Faber (2:30)

And obviously, as a Light Club Knicks fan, it's a great thing. I'd hope to get out there and watch. That's going to be virtually impossible. And unfortunately, no windows even from here in the New York Stock Exchange to see Broadway, as far as I'm aware.

Jim Cramer (2:41)

In New York, I know that it's very civil. In Philadelphia, you had to grease the poles, see people climbing up and overturning cars.

David Faber (2:52)

A lot of young kids. Very nice to see everybody.

Jim Cramer (2:54)

No, no, it was great. But I did get high walking down the street because there's a lot of pie.

David Faber (2:59)

Well, yeah, of course. You want to start off every morning getting high.

Jim Cramer (3:01)

I mean, I forgot who I was dealing with.

David Faber (3:03)

You do. Speaking of being high, let's talk about the market, shall we? Or let's talk about where we are right now.

Jim Cramer (3:10)

I would love to, David.

David Faber (3:11)

This after a day, the Fed of course held rates steady. First Fed meeting under new Chairman Kevin Warsh. In his press conference, Warsh spoke about the group's goal to take on inflation.

Kevin Warsh (3:24)

We recognize that inflation has been running well ahead of the Fed's long stated inflation goal of 2 percent. That's been going on for more than 5 years.

Persistently high prices are a burden for the American people. But the recent past need not be prologue. I am pleased to report that members of the FOMC are unambiguous and unanimous. This committee will deliver price stability.

David Faber (3:59)

Rates went up after this of course. The more people looked at the dots, the more likely for a hike than not.

Terse commentary from the Fed Chairman, of course. What do you make of it all?

Jim Cramer (4:08)