9AM Hour: White House History: President Trump Rings the NYSE and Nasdaq Opening Bells 7/6/26

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Carl Quintanilla (0:56)

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 and Post 9 of the New York Stock Exchange. We kick off the first full trading week of the second half with a bounce in tech and some chip names today. We'll get a soft launch of Q2 earnings this week with Pepsi and Delta.

ISM services in about an hour. Oil's holding below 69 as OPEC Plus agrees to hike the production targets. Our roadmap today begins with tech said to lead the charge. Chip names rallying again. Investors gearing up for earnings season.

David Faber (1:32)

Plus we're keeping an eye on shares of SpaceX. They are up in the pre-market. The company's stock is set to join the Nasdaq 100 That's less than a month, of course, since it became a public company. And we've got a special opening bell ceremony coming up. President Trump will, for the first time ever, jointly ring the New York Stock Exchange and Nasdaq opening bells from the Oval Office. This is in celebration of the first day of trading for what are Invest America accounts, also known, of course, as Trump accounts. Robinhood CEO Vlad Tenev also will join us later in the hour to discuss.

Carl Quintanilla (2:05)

Let's begin, though, with the markets. S&P and Nasdaq on track for a higher open. Jim Dow is writing four straight weekly gains.

Jim Cramer (2:11)

She's got a lot of money going into the Dow and a lot of money that left tech on Friday. And tech on Friday, a little dubious why it left.

I talked about this with my club this weekend. There was a story that talked about, well, it's from the information. I'll put it out there. That was very negative for a lot of semiconductors. And I think that you saw them go down. What I think is really happening is today is like the revenge of that. We're seeing a lot of people who are saying, look, it's time to go back in the group, the group has been hit. Now I know that there's a negative story about Nvidia out there. You can certainly read that.

We have the best stuff, I think, in CNBC. But I know that the other stocks are all going to come back, particularly Broadcom, because it has a contract with Apple that is larger than we thought. David, you know that tech remains the battleground. Michael Wilson this morning says you should go back into the hyperscalers, which have not done that well, that smoothed Amazon. But I could argue that maybe we're looking too much at tech. Maybe we have to start looking at other areas of the market that are not as, let's say, competitive against each other.

David Faber (3:16)

Yeah, you've been talking a bit about that hope for sort of that broadening that we talked about. Yes, it has taken place to some extent, or at least is part of the market commentary these days. But back to the big, most important trade over the last, well, it's been what, years now?

You know, you guys were here obviously on Thursday, I was not, but Meta, and that news that came out the day prior and the reaction to it as you read what Wilson had to say sort of about that broadening. I mean, where are we, Jim, on the whole idea of Meta and whether somehow their decision to least compute capacity is a sign that their own capex is gonna slow. That narrative seems to have stopped, but it took hold for a day or two, didn't it?

Jim Cramer (3:59)

Yes, I think it stopped because there's the possibility of so many people, so many companies needing that compute, so that it turns out to be more of a positive. That's where I was when I talked about it on Thursday and Wednesday, because the company has said, we need all the compute we can get, and we've already got a lot of interest from other companies. And Carl, this whole notion, Brad Gerstner talks about it, of compute, compute, compute. Anybody who has it is still a winner, which is surprising, because at a certain point, shouldn't we see some profits in compute for somebody other than the much-loved Anthropic, which is who the partner is with information, which says that they're going to go in and buy chips without ever saying what kind of chips. I mean, it's kind of a thing. I remember when I helped run the street.com and I used to say, listen, here's what I don't want. I don't want any Friday afternoon stories that blast companies, because they will obviously look like that they are aided by short sellers, even if they're not.