Ceasefire Rally, Powell Testimony Day 1, Exclusive: Visa CEO on Stablecoins and the Consumer 6/24/25

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David Faber (1:02)

I'm David Faber. Join me, Carl Quintanilla and Jim Cramer for the opening bell hour of CNBC Squawk on the Street, the podcast. Subscribe for free wherever you listen and you can always catch us live weekdays at 9 a.m. Eastern on CNBC.

Carl Quintanilla (1:23)

Good Tuesday 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. Pre-market is holding gains, even after the president says Israel and Iran violated the ceasefire he announced last night. Oil's still below 66, Powell's on the hill today. He'll say the Fed is well positioned to wait before cutting 10-year 435 Our roadmap begins with futures spiking as investors continue to navigate this Israel-Iran conflict. The president blaming both sides for violating that ceasefire.

David Faber (1:51)

And as Carl just said, Jay Powell is set to testify, before the House Financial Services Committee this morning. This is the president ramps up his continued pressure on the Fed share. And we're going to have a rare exclusive with the CEO Visa. We'll talk about the health of the consumer and as well, what the rise of stable coins may mean for that company's business.

Carl Quintanilla (2:11)

Let's begin though with market reaction to the president's messaging on the Israel-Iran conflict this morning on TruthSocial. He posted, quote, Israel is not going to attack Iran, adding that the ceasefire is in effect. But that was shortly after the president accused both countries of violating the truce. This is what he had to say at the White House before departing for the NATO Summit in the Hague.

SPEAKER_6 (2:33)

I'm not happy with Israel. You know, when I say, OK, now you have 12 hours, you don't go out in the first hour, just drop everything you have on them. So I'm not happy with them. I'm not happy with Iran either. But I'm really unhappy if Israel is going out this morning because the one rocket that didn't land, that was shot, perhaps by mistake, that didn't land. I'm not happy about that.

Carl Quintanilla (2:56)

Jim, some harsh words, dropped an F-bomb, criticized some of the news coverage. Last night, he did tell NBC he thought this ceasefire would last forever, in his words.

Jim Cramer (3:06)

Yeah, look, I think that it took everybody by surprise. It even seemed to take Israel and Iran by surprise. But I would say to go back to 1973, which I know seems like a very long time, but not when it comes to wars in these different countries. There was a ceasefire that was agreed to by Israel for the, from the United Nations. Kissinger then said, listen, go ahead, do what you want. And then they encircled the Egyptian Third Army. And the war went from a stalemate to a victory. I think that when you hear something like this, what did Netanyahu do? I think he might have used the provocation to be able to go back and really make war, or maybe they thought that they could do what they did in 1973 David, there is a sense that there is some give historically in a ceasefire, and the president doesn't want that.

David Faber (4:01)

No, clearly doesn't want it, doesn't expect it, and expects that they will cease hostilities, and that, I think, is the hope. Market obviously seems to believe that as well, importantly, this morning, that regardless of what may have been exchanged there, and obviously, the president was reserving most of his frustration for Israel, that it is going to end, and if in fact that's the case, you can imagine that stocks, right, and look at that move in crude, a significant move down as well.