Markets and Pres. Trump: The Sequel, Mnuchin Talks TikTok, Apple Extends January Losses 1/21/25

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Jim Cramer (0:44)

It's Jim Cramer here. You're listening to the opening bell of CNBC Squawk on the Street. Don't miss a minute of the action.

Steven Mnuchin (0:52)

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Jim Cramer (0:54)

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And nothing will stand in our way because we are Americans.

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Carl Quintanilla (1:10)

President Trump back in the White House for a second presidential term as the street absorbs the flurry of EO's executive orders on day one. 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. Futures pretty solid. Coming off the best week for stocks since early November. Yields backing off 10 year at nearly a three week low as attention turns to corporate earnings this week. Netflix tonight. Our roadmap begins with the Trump trade. Investors weighing the impact of this new administration, that flurry of executive orders in a seemingly softer tariff stance than feared.

David Faber (1:44)

Plus, keeping an eye on shares of Apple, they're under pressure this morning. Jeffrey's warning, revenue may disappoint, while new data points to a continuing decline in Apple sales in China. And of course, the fated TikTok, you're just hearing Andrew talk to Bill Ford from ByteDance, or a ByteDance owner about it. There's possibility would there be a new joint venture? So many different things here. We're going to be joined by the former Treasury Secretary, Steven Mnuchin. This hour, you may recall, he was trying to put together an investor group at one point to buy the app.

Carl Quintanilla (2:16)

Let's begin with this new Trump administration getting off to a quick start. Yesterday, the president did sign dozens of executive orders, setting the tone for the second term. Jim, although the street cares about tariffs and taxes.

Jim Cramer (2:27)

Right, but I was surprised that interest rates went down pretty heavily. When you listen to some of the guests on this morning, people just say, well, supply is going to hurt, supply is going to hurt. I think that it's regarded as a very pro-business regime because of actually a story that the FT just ran about, Donald Trump threatens tax war over US multinationals. I think that that is the only thing I've heard so far that just tells me, you could one day raise numbers. I think it's important, David, because we live in a raise numbers, decline numbers world. We don't live in a world where we're sitting here talking about the Panama Canal unless you want to go there.

David Faber (3:04)

Right. I mean, so many cross currents right now and so many things coming out of so quickly. I mean, I don't know, what are you, what's top of list for you in terms of what it will do for what our viewers typically care about, the movement of the markets?

Jim Cramer (3:20)

Well, look, I think that the only substance of stuff in the market is that prices for oil are going to go down because he's going to get us to pump more. And I think that the discipline of the oil companies versus what he said could be that that's front and center. The oil companies are not into drilling all over the place. They realize that their stocks had had a kind of a halcyon moment because they held back. And now they're being told drill. And I don't think that they'll respond to that. I just don't think they will.

Carl Quintanilla (3:50)

Interesting to borrow on Squawk today, referencing what $50 oil will do to inflation and the economy.

Jim Cramer (3:57)

Well, Peter was very aggressive and Peter can be very aggressive talking about how the tariffs are going to be anti-inflationary, basically, and oil coming down. David, when you listen to a guy like Peter, who is very much a house man, a poor, the president, you do feel that interest rates should go down. And you feel like all the other guests don't know what they're talking about.