Squawk on the Street 4/13/26

SPEAKER_1 (0:00)

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SPEAKER_2 (0:28)

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David Faber (0:43)

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

Carl Quintanilla (0:55)

Good Monday 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. Here we go again, oil back to 104, as talks with the Iranians go nowhere over the weekend, and the president threatens a blockade of Iranian ports to begin in about an hour, which NATO will not join. Equity futures lower as Goldman sets up big bank earnings. It'll be a drag on the Dow today on this FIC revenue miss. A roadmap begins with the coming US blockade of the straight, set to begin next hour as Iran talks fall apart over the weekend.

David Faber (1:25)

Plus, shares of Goldman Sachs are under pressure ahead of the open despite notching its best-ever quarter for banking and markets. And of course, we'll be talking about the state of AI. It's the trading of stocks related to it, uncertainty surrounding the technology, and everything else. Yeah.

Carl Quintanilla (1:44)

After the US and Iran ended the weekend without a deal, the president announcing plans for a naval blockade of the Strait of Hormuz.

SPEAKER_6 (1:52)

We have a blockade going into effect. That'll be 10 o'clock tomorrow. Other nations are working so that Iran will not be able to sell oil, and that will be very effective. But what we want to do is we want to, and again, we don't need it. What we notice and what we see and what I think is maybe my idea, maybe not, I don't know. But there are many boats heading toward our country to fill up with oil and then go and take it. So they're not going to go through the hormone strait and ultimately that will be corrected.

Carl Quintanilla (2:29)

Jim, we don't know exactly how this is going to work or how sustainable it is to do on our own.

Jim Cramer (2:33)

Yeah, I think that what happened is that people first saw it and the futures were down a percent, a percent and a quarter. And then as the morning went on, as the late morning went on, people just kind of felt, this is my interpretation, that you know what, stuff wasn't going to go through anyway. Now, I think that that doesn't put any, more premium on it, as if there really will be nothing that would make it so that Iran would step up. But David, I don't know. I mean, you're doing it during the ceasefire. Maybe it's a test to ceasefire. But I think the oil stocks rally. I think that oil itself rally. But it's not as horrible as thought of only just because, well, come on, I mean, it's, there wasn't, they're not doing anything. I mean, nothing was going through except for rent.

David Faber (3:19)

Right, right. So now that won't be going through.

SPEAKER_6 (3:22)

That won't go through.

David Faber (3:23)

That's to China, what do we make at this point, Jim, of the impact this is going to have? It's been what, 40 plus days now. Are we going to start to see, in terms of Asian countries that rely on so much of their oil and natural gas moving through the strait, helium supplies for semiconductor manufacturing and fertilizer, and on from there for both Asia and Europe as well? Are we going to start to see more of an impact?

Jim Cramer (3:47)

Yes, it should. Strategic control and reserves are going to run out. I think that this is one of those moments where Asia is really going to be hit much harder than everybody else. Now, we have, remember, we have continental self-sufficiency. I know that the president said that we're sending stuff overseas. That's because gasoline is a world market, but, you know, Carl, increasingly, I think what we're talking about is the natural gas advantage. So much of our country runs on natural gas, whether it be heating, whether it be, you know, the data centers, the way that we do make a lot of things. And that's our real advantage, because the president's not talking about it enough. I think it's hard to understand natural gas, because these industrial gases, what we didn't, I didn't know what they were until I got in the business, but they are vital, and Asia really is being crushed by those. So, I think that if I were an Asian country, I would either say to the United States, you can't do this, please let us go. Or you go, I think what the president is hoping for is maybe that there's a coalition of people who gang up on Iran. I don't think that's going to happen, because the president hasn't been good at building coalitions.