Markets and Tariff Jitters, Bullish S&P 500 Targets, Meta Poaches Top AI Executive from Apple 7/8/25

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SPEAKER_3 (1:02)

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

Carl Quintanilla (1:08)

Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer at post nine of the New York Stock Exchange. Faber has the morning off. Futures stabilize a bit here after Monday's tariff related sell-off. As the market pins its hopes on more deal announcements, maybe some implementation delays. Got some bear steepening in bond yields, the long bond near 5 percent once again. Our roadmap begins with market fallout from the president's tariffs moves as Goldman and B of A raise their S&P forecasts. A major coup for Mark Zuckerberg hiring Apple's top AI expert and Amazon kicking off its Prime Day event. What's at stake for the retail giant amid the uncertainty over tariffs? Let's begin with the markets though trying to shrug off these tariff and trade jitters. Yesterday, the president was asked about the letters he sent to trading partners regarding steeper tariff rates. Take a listen.

SPEAKER_5 (1:58)

Are the tariff letters that you sent today final offers or are they negotiable?

SPEAKER_6 (2:03)

Final offer.

SPEAKER_5 (2:04)

So, South Korea, Japan should take it or leave it?

SPEAKER_6 (2:06)

We're always subject to negotiate something that's fair, but we've talked to most of the countries and pretty much they've had their way for many, many decades, as you know, and it was time that we just wanted fairness.

Carl Quintanilla (2:19)

So Jim, given that some of these levels are not that different from the ones we saw in April, does the market deserve to be 25% higher?

Jim Cramer (2:26)

Well, look, I think this was an ideal time to start being tough. It seems like the president recognized the stock market was up big. Now, I know you could say, well, that's somebody's looking at, but the fact is, is that it's up big and he can go boldly. I do think that, I'm not saying he's bluster, I am saying that if I were one of these countries, I would say, okay, look, I've been holding off, and maybe I can't hold off anymore because beginning on a certain date, we're going to start losing a lot of share. And I think that, I now look at this thing as, I look at the stock of Ford. Ford's probably the most hurt or most help. Ford's making its first move in multi years. And that says to me, not that the F-150 is selling well, best truck up. So, I was supposed to add that, but that something's happening. And Ford's going to take share. And if Ford takes share, these companies got to come to the table. They have to. They can't lose share to Ford, because Ford has been a whipping boy for them. That Ford has been, they've just, they've had their way with Ford long enough. And that's how you gauge this thing, because it is autos. And they're not, remember, Trump's not trying to get them necessarily. It's either, you can either get away by building a new plan or by buying stuff. And it's quicker, of course, to buy stuff. But I've got to tell you, something's going on here that might be meaningful.

And that is, is that this is the win for Ford.

Carl Quintanilla (3:56)

The win for Ford, given the prospect that foreign exporters...

Jim Cramer (4:02)

Their stuff is now going to cost too much. Everything's going to be like the Range Rover. And I do think, by the way, that Ford would tell you, Ford has been saying, look, we're being hurt by minerals, we're being hurt by dumping, we're being hurt by the way that they're doing tariffs in Canada and Mexico.