Pres. Trump at NATO Summit, Nasdaq 100's Record Run, FedEx Slides 6/25/25

SPEAKER_1 (0:01)

Want to quickly create and execute trading strategies to help keep up with the markets? With Fidelity Trading Dashboard, you can access live data, advanced charting, portfolio insights and automated alerts, all on one screen. We streamlined the trading experience so you can build and place trades better. Your Fidelity Trading Dashboard is ready now for free. Visit fidelity.com/tradingdashboard.

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

SPEAKER_2 (0:31)

Introducing the new Dell AIPC, powered by the Intel Core Ultra Processor. It helps do your busy work for you so you can fast forward through editing images, designing presentations, generating code, debugging code, summarizing meeting notes, finding files, managing your schedule, responding to Jim's long emails, leaving all the time in the world for the things you actually want to do. No offense, Jim. Get a new Dell AIPC starting at $749.99 at dell.com/aidashpc. How those ahead stay ahead.

Carl Quintanilla (1:02)

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.

David Faber (1:14)

You're looking at a live shot of the NATO Summit in The Hague. That is where President Trump is set to hold a news conference. This comes after a big win for the president. NATO allies have agreed to more than double their defense spending target. 2% of GDP will now be as much as 5%. That by 2035 We're going to bring you live coverage of the president's remarks, of course, when they begin. Good morning. Welcome to Squawk on the Street. I'm David Faber alongside Jim Cramer. We're live from Post 9 at the New York Stock Exchange. Carl has the morning off. Let's give you a look at Futures as we get ready to begin trading for this hump day, as we like to call it, Jim and I. And we are looking for another up open, of course, yesterday, a strong session as well. We're going to get to the markets in just a minute as we await the president, of course, as well. Jim, you know, let's just start there. Very close to all time highs.

The hostilities between Israel and Iran have ceased for now and perhaps for good. So, oil certainly down.

Jim Cramer (2:15)

Right.

David Faber (2:15)

Who knows?

Jim Cramer (2:15)

It could go down much more.

David Faber (2:17)

Oil down yesterday. Of course, those who were short crude along the market were very happy. Does it continue? And are we now back to sort of talking a lot more about tariffs?

Jim Cramer (2:27)

It's so strange, David. There's a move this morning from a couple of firms, Melius with a really good piece, Loop Capital, that say its happy days are here again. But I'm going to quantify that. They're saying that now that all of this has been, what you just described, dissipated, we're looking at an Nvidia-led market, which deserves to be much larger as a percentage of the stock market. Rice just talks about how it could be dramatically larger, kind of like 1980 with oil. And that's what's percolating. Away from that, we should be talking about FedEx. Right? Because FedEx has got the best read on the economy. But there are just a lot of people who are really, what I've described, is all bulled up, whether they're in the large cap tax or the quantum scapes and the, you know, occlos, the things that you and I don't talk about that sometimes make me feel like, are we crazy?

David Faber (3:18)

I know. Well, I mean, there's a more speculative part of the market. Certainly, quantum is. Now, we've had the occlos CEO on. They're talking about their ambitious targets for building nuclear power plants. Obviously, the stock has had quite a move. Back to this, it is funny to get back to what we spent so much time, the three of us typically talking about, as we should, which is the AI ecosystem, who's benefiting, who's not, who wins, who loses. To your point, I know there was a very long piece as well out today. I think it was Bank of America that had a very long piece in terms of their sort of overall view of so many of the different things going on. Is that, does that stand or?

Jim Cramer (4:01)

Yes, I think it does. Jensen Wong has the shareholding today. I don't expect any fireworks, but it's going to reaffirm that what's happening is that industrial revolution is on.

David Faber (4:11)

By the way, I just stopped you, but there's one of the headlines.

Jim Cramer (4:14)

Yeah, that's big.

David Faber (4:15)

They write. I mean, these numbers are, yeah, five and a half trillion roughly in global IT spend. They see the AI part of it growing to 820 billion by calendar year 30, and that is a huge compounded annual growth rate.