Squawk on the Street 4/14/26

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Carl Quintanilla (0:59)

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 (1:13)

Good Tuesday morning, welcome to Squawk on the Street. I'm David Faber with Jim Cramer. We're at Post 9 of the New York Stock Exchange. Carl's on assignment today. Let's give you a look at oil first, then we'll get to futures. There you see it, because of course that often tells the story, but not always.

Jim Cramer (1:27)

No, not today, my friend.

David Faber (1:28)

Suddenly things are changing.

As you see, oil's down. Does it mean the market will be up? Well, yeah, right now it does, but we'll see how things go.

Jim Cramer (1:37)

Well, PPI is what's going on.

David Faber (1:38)

Yeah, PPI.

Jim Cramer (1:39)

This is not a bad day so far.

David Faber (1:41)

No, of course, we're 29 minutes from an opening bell. Let's get to our road map this morning.

Jim Cramer (1:45)

But you're wearing the lucky jacket.

David Faber (1:47)

I'm wearing the lucky jacket.

Jim Cramer (1:48)

That's the one made of polyethylene, and you can't get it because of what happened in Qatar.

David Faber (1:54)

Our road map is going to start with a slew of bank earners, JP Morgan, Citigroup, Wells Fargo, all out with their first quarter results. We're going to break down those numbers. Also on earnings, BlackRock's Chairman and CEO Larry Fink is going to join us right here at Post9. That will be after we get the opening bell. We'll talk, of course, about the latest quarter, perhaps a little bit about private credit, and well, you never know. Intel, writing a historic nine day winning streak on track for what would be the best run that stock has seen at least since the 70s, when I was but a child.

You were still an adult in the 70s. All right, you want to start talking about banks?

Jim Cramer (2:31)

I was a homicide reporter.

David Faber (2:32)

You were what, were you? You were a homicide reporter, yeah.

Jim Cramer (2:34)

Yeah, I had all the great bids. All right. All right.

David Faber (2:37)

What do you think of bank earnings? Where do you want to start?

I'll give you your choice. JP Morgan, Wells Fargo, Citi. Where would you like to begin?

Jim Cramer (2:44)

Citi always wins because the analysts have yet to catch up to the fact that it's a better bank under James Fringe. So they always seem to be able to do better when in reality what it is, is that the earnings estimates are too low, okay? Goldman Sachs, the earnings estimates were too high. David Solman, he wasn't able to rank them ahead of time, so that did not beat the numbers. JP Morgan, of course, Jamie had the ability to be able to have a blowout quarter, but instead tries to emphasize risk. Charlie Sharp, my child from Sussex owns it, not a great quarter.

David Faber (3:20)

Not a great quarter, right? On Wells Fargo.

Let's focus on that a bit. Why not? I see that there might have been a bit of a miss when it came to the interest margin.

Jim Cramer (3:29)

Yes, there was. That was highlighted.

David Faber (3:31)

Cost of deposits, perhaps.

Jim Cramer (3:33)

Yes, but also, I mean, people are going to say, regardless of what Charlie says, that they have gigantic private credit exposure. And, you know, 36.2 billion, and there's not anyone who's going to say, well, I wish I had all that private credit. Now, we will speak to Larry Fink. He's got real private credit. In other words, he's got the private credit into certain markets that are much better. But I did not know, for instance, that Charlie had $36.2 billion of private credit. My hope is that on the conference call, he will talk about investment banking.