Shutdown Impact on Air Travel, Nvidia CEO on China-U.S. AI Race, Musk $1T Pay Package Vote Watch 11/6/25

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Jim Cramer (0:45)

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

Carl Quintanilla (0:52)

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla. Jim Cramer is back at Post 9 David Faber at Post 9 of the New York Stock Exchange. Future is fairly stable. Investors processing a wave of consumer-related earnings today. The government shutdown really starting to bite into travel. Challenger layoff data shows the biggest number of layoffs for any October in more than 20 years, 10 year 411 Our roadmap begins with the government shutdown starting to hit the airlines in a very real way. The FAA cutting flights by 10% at 40 major airports.

David Faber (1:21)

Plus Nvidia's CEO Jensen Huang softening his remarks that China will win the AI race comparing China's pro industry energy subsidies with what he described as excessive Western regulation. It's also a crucial moment for Elon Musk and Tesla shareholders today. The vote on his trillion dollar pay package, at least what could be a trillion dollar pay package, that will be revealed at the company's annual meeting a bit later.

Carl Quintanilla (1:47)

Let's begin with the shutdown's impact on air travel this morning. The transportation secretary and FAA officials announcing this 10% reduction in air traffic at 40 of the nation's busiest airports. They say the cuts, which would go into effect tomorrow, part of an effort to ease pressure on air traffic controllers, who of course will miss another paycheck next week due to the shutdown. Jim, if the shutdown goes to 50 days, you're starting to run into Thanksgiving.

Jim Cramer (2:11)

Absolutely, you know, remember, in February 6th of 2019, the government shutdown ended after only 10 air traffic controllers stayed home. Just 10 The flight delays were considered to be ridiculously long, and the Congress people started complaining. So David, I know this may be bold.

SPEAKER_4 (2:32)

I'm listening, I'm listening.

David Faber (2:33)

I got a lot going on.

Jim Cramer (2:35)

I have nothing going on. This was, hey, don't get mad.

David Faber (2:39)

What? No, we're just trying to, we're trying to produce in the middle of the show. What's going on? Go ahead.

Jim Cramer (2:45)

The East Coast Experience flight delays did cause major reason why the shutdown ended.

David Faber (2:55)

Okay, thanks for that. Some of the other things. Can we move on? You want to keep talking to airlines?

SPEAKER_2 (3:01)

No, it's okay.

SPEAKER_7 (3:02)

You sure?

David Faber (3:03)

You can, you can tell me more about the airlines.

SPEAKER_7 (3:06)

Do you like the stocks?

Jim Cramer (3:07)

He just wants to talk about trillionaires.

David Faber (3:09)

Do you like the stocks or not?

Jim Cramer (3:10)

No, I'm just saying that's what caused it. When you get into this level and you start closing airports, I'm telling you, the Congress people will go nuts.

David Faber (3:18)

They're not closing the airports, but they are reducing the number of flights.

Jim Cramer (3:22)

Well, I'm saying if air traffic controllers don't show, it took only ten to stop in 2019

Carl Quintanilla (3:26)

No, it was in early 19, as you mentioned, and it was about DCA, the flight patterns hitting the Washington DC metro area, that got their attention.

Jim Cramer (3:34)

When I looked at that list, I was thinking it was going to be Uri, Altoona, maybe Harrisburg. No, it was actually larger cities. It's like every city that you'd fly from.

Carl Quintanilla (3:44)

So you think history rhymes here?

Jim Cramer (3:46)

Yes, absolutely.

Carl Quintanilla (3:46)

So you're calling for the end of the shutdown?

Jim Cramer (3:48)

Absolutely. You can't go through this. There's too many Republicans and Democrats who are going to get complaints. This is something they complain about. Even the lumpenproletariat complained about planes.