Mag 7 Earnings Countdown, Fed Decision and Warsh Vote, Starbucks and Robinhood CEOs 4/29/26

SPEAKER_1 (0:00)

With Uber's new Women Preferences, women riders can request a woman driver whenever they want. Like Amy, who's traveling solo in a city she's never been to before. Or Danielle, who works night shifts at the hospital.

Or Kelly and Jana, who were way overdue for a night out. Because sometimes comfort comes from having another woman with you. Request Women Drivers with Women Preferences on Uber. Learn more on the Uber app.

SPEAKER_2 (0:30)

Introducing Fidelity Trader Plus, the next generation of advanced trading from Fidelity. Customize your tools and charts and access them seamlessly across desktop, web, and mobile. For faster trades, anywhere you go. Try the all new Fidelity Trader Plus. Learn more about our most powerful trading platform yet at fidelity.com/traderplus.

Investing involves risk, including risk of loss. Fidelity Brokerage Services, LLC. Member NYSE SIPC.

David Faber (1:00)

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

Carl Quintanilla (1:11)

Good Wednesday 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. Future is fairly steady, as markets will be asked to handle a lot today.

A Fed decision, a Senate vote on Kevin Warsh, mega cap tech earnings tonight, and raise guidance from a bunch of companies, Sevesa, Starbucks, Seagate and others. Oils at a one month high, as reports suggest the White House is prepping for an extended blockade. Retail gasoline, also a new wartime high. A road map begins with the tech trade though the Mag-7s report after the bell. Chip stocks look to recover from yesterday's losses.

David Faber (1:46)

Plus the Federal Reserve expected to keep rates steady today. It could be Chair Powell's last meeting at the helm. And you're looking at one of two major CEOs will be joining us this hour to break down the results from their companies. That does include Starbucks CEO, Brian Niccol, pictured there. And we'll also have Robinhood's Chief Vlad Tenev join us a bit later in the hour.

Carl Quintanilla (2:06)

Let's begin with a busy day for the markets as we're gonna test our bandwidth today, Jim. The big story is obviously gonna be Amazon Alphabet Meta tonight.

Jim Cramer (2:14)

Right, and we do get some clues. We have some clues last night. The Seagate blowout is directly related to the need to have more memory, more space. That is just great news. The conference call was fantastic. We've had a couple of things that have been just terrific that people aren't talking about. I like the fact that yesterday, Cornyn reported a great number. That's fantastic for what you see in the data center because that's a fiber play.

This Bloom Energy, which is the star of last night, is all about how you can make energy without having, David, any fossil fuels. And Oracle switched them from traditional fossil fuels. So we're getting some signs that some of the things that we have that are prelude to the Big Four are positive.

David Faber (2:58)

And of course, as Carl said, coming off a day yesterday, that was not good for so many of the stocks that have benefited overall for quite a long period of time from the overall thesis that it's all about compute, compute, compute. And the ever growing needs of all of the hyperscalers and OpenAI and Anthropic and anybody else you want to throw in there.

Any reversal expected today? I mean, again, you pointed to those as being good examples, I guess. Although Bloom Energy, well, I guess it's related to the data center, obviously.

Jim Cramer (3:30)

Yeah, it's data center. And the same way I had Newcore last night. Holy cow, their steel is all going, they're blowout number. And you take a look at a chart of Newcore, it looks like Seagate.

That's all because there's steels being used in the data center and also into the, those giant electric guys that look like men that used to terrorize your kids. You know, they look like this, but they don't walk, but they look like it. You know, the things, the electric things, the stanchions, the things that hold the wire.

David Faber (3:59)

Oh, the stanchions.

Jim Cramer (4:00)

Right. Right. You know, they're scary looking.

David Faber (4:03)

Are they? I didn't realize that.

Jim Cramer (4:04)

They're scared. They're like big, like this, and they hum when you're... Anyway, they...

David Faber (4:08)

Well, we each have our own fears. I suppose that's something that we have.

Jim Cramer (4:11)

I used to hide in the closet with those. Spiders, alligators, stanchions, or stanchions with blanks on them. Well, they're all made with Nucor Steel, so I'll tell you, I no longer fear them.