Cramer Rings NYSE Opening Bell, Bessent Speaks, Earnings Parade 4/29/25

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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.

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You're listening to Squawk on the Street, the opening bell in progress.

Carl Quintanilla (1:13)

That is the Treasury Secretary on the president's hundredth day in office. It is Scott Bessent who gets the press briefing at the White House. Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber, and we're at Postal 9 of the New York Stock Exchange. Jim, talking some trade tariffs, talking deregulation, talking taxes.

Jim Cramer (1:31)

Yeah, and I think that the ultimate takeaway for viewers at home is that the president did say through this post person that Amazon putting up the tariffs cost is a hostile act. And so people are immediately selling Amazon. It could be knee-jerk, David. You know that there are probably others who may do the same thing.

David Faber (1:50)

Yeah, we want to talk a bit about that. I think the Treasury Secretary did not say anything. We didn't really hear yesterday in the sense of getting close on something on India, bringing up South Korea and Japan as well as other opportunities perhaps in the nearer term for– and again, these are not going to be agreements, so to speak. What they will be is memorandums of understanding that probably have the effect of reducing tariffs and provide the roadmap for getting to an agreement, which of course will take quite some time to hammer out as our Megan Kasella makes clear whenever she's reporting on these things. I will say that's been going around in the markets as well, guys. You know, you hear from any number of uninformed hedge fund managers that this is what they're hearing. Well, we're going to get this one done and then we're going to get that one and then that one and then we're going to get China. But nobody, as I like to say, really knows anything. But we did hear at least the Treasury Secretary give voice to the idea of some of these things being close, the ones that are most often talked about. India, South Korea, Japan.

Jim Cramer (2:47)

But I'm glad you bring that up because there is a level of faux-circumstancy about this. In other words, that will come in each day and we expect to see some news. And yet we also know that even memorandum of understanding take a long time. So I certainly don't want... Right. I mean, we could come in. People might be buying on this, Carl, and there are people who should be a little more considered because every day we hear...

I heard, for instance, that South Korea... We were on the cusp of a South Korean deal a couple weeks ago. I didn't relay it because I thought on the cusp could mean anything. And that turned out to be the case.

David Faber (3:29)

You can't. Very hard to know these things. I think it's the general sense that progress is being made. And Bessent gives voice to that virtually every day. He did so over the weekend on the Sunday shows. He did so yesterday on Squawk Box. And he did it yet again with this press conference.

Jim Cramer (3:46)

Does he have any experience in the markets?

David Faber (3:49)

35 years.

Jim Cramer (3:50)

35 years. Now, I don't mean to be poke fun, but I'm just saying that there's, like, if you're... Get out of it. If you're a trader, go do what you want. Okay? Just do what you want. If you're an investor, stop it. Don't pay attention. They don't have anything yet. And there's a lot of hostility to the view.