"Ceasefire Rally" and Beyond, Meta-CoreWeave $21B AI Deal, McCormick CEO "First on CNBC" 4/9/26

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Carl Quintanilla (0:55)

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 Thursday 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. Oil back within a buck or so of a hundred as the vice president says there's a legitimate misunderstanding about the ceasefire with Iran. And as traffic through those straight of Hormuz is at a virtual standstill, equity futures giving back just a touch of Wednesday's rally. Macro data today somewhat weak, but the 10 years still close to 4-3. A roadmap begins with stocks pulling back after yesterday's historic rally. The president says US military personnel will remain in and around Iran until Tehran complies with the quote real agreement reached.

David Faber (1:42)

Plus CoreWeave shares are getting a boost this morning. Meta commits an additional $21 billion for AI infrastructure and an agreement with that company. It adds to a prior arrangement calling for $14 billion worth of compute power, essentially. And the CEO McCormick is going to join us right here at Post 9 It will be his first on-air interview since the company announced its plans to combine with the food business of Unilever in a very large reverse Mars trust transaction involving stock and cash and a lot of questions.

Carl Quintanilla (2:14)

Yeah, a lot of questions. Let's begin with the markets after yesterday's big rally and that oil price plunge as the street digests. The latest developments regarding the ceasefire, Jim, it's being described as wobbly, a lot of contradictions, a lot of confusion.

Jim Cramer (2:27)

We got to keep talking about the fact that whether we hit the bottom two weeks ago Monday and I think that when you see oil trading back up, oil's been right the whole way. When oil trades back up, don't buy stocks. And I think that I'm not a military strategist, a political guy, but I think people are asking, okay, what did we win? I know the president's saying it's a big win, but people are very confused because if the straight is not open, so to speak, but we're not allowed to, let's say, take military action against them. Well, David, I have to say, it's perfectly understandable that anyone might say that our job is not done, US job is not done in every way.

David Faber (3:11)

Well, if that job included actually opening, as they say, the straight of Hormuz. And as Brian Sullivan pointed out, saying opening and closing somehow implies that it's Iran's, it's not. It's an international waterway. But it's interesting, Jim, because again, listening to Brian's reporting, for example, oil was up, in part, and the markets were down because of the fear around the inability of many countries to get oil, the commodity going up in price significantly, natural gas, even helium shipments to those. None of that seems to have changed as of this moment.

Jim Cramer (3:50)

No one seems to. What was the deal? What were the points? What was the structure that made it so that the US felt that it was not just a fanciful offering, that there were 15 of them? I mean, I think that we're all very befuddled right now, and oil's going back up because, well, I mean, Carl, when you look at, oil went down a lot because I think people felt it was going to be free flow, and the world was going to be flooded. The world's not flooded at all.

Brendan Foley (4:16)

Right.

Carl Quintanilla (4:17)

Israel, of course, and Lebanon are another sticking point. Yesterday, the deadliest day of the war in Lebanon, over 200 people were killed, and the Israelis say they continue to strike today. That said, Jim, oil, since the war began, is up 42 percent. Stocks are down 1 percent.