Squawk on the Street 4/16/26

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David Faber (0:59)

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

Good Thursday morning, welcome to Squawk on the Street. I'm David Faber. He is Jim Cramer, he's just getting seated.

Jim Cramer (1:17)

We were looking at some things together.

David Faber (1:19)

We're at the New York Stock Exchange, of course, right here at Post 9 Carl's on assignment. And Futures are trading now, and the market opens a half hour from now. We're looking for yet another higher open, at the very least, after some very strong days. Certainly if you were bullish, they have been. Our roadmap does begin with the return of those records for the S&P 500 and the NASDAQ, the tech heavy index, by the way, notched. It's 11th straight day of gains yesterday. Plus that SpaceX payday. We're going to have a look at how Alphabet's investment could soon be worth more than $100 billion in the company that is soon to come public. And Oracle shares, man, they have been on quite a run. Popping again in the pre-market. It's a 25% gain so far this week. All right, let's get right to the markets. Of course, closing at those record highs, some of the year's biggest laggards leading the charge this week.

And Oracle's one of them, of course, but so many others. Your thoughts on this Thursday morning, Mr. Cramer?

Jim Cramer (2:20)

This is the complete revenge of the software companies, whether it be ServiceNow and Salesforce or whether it be Oracle and of course, Microsoft. And the question is what's real and what's not, what's oversold and what's really taking off. And I'll tell you, you mentioned Oracle. Oracle's the one that makes people feel, you know what, this is all fine. It's going to happen. Oracle was a bridge too far, not unlike, I don't want to complain too much, not unlike Blue Owl with private credit. What we're doing is solving some of the puzzles that really were out there.

Now, David, all of these are linked. Yes. You and I knew that Blue and Owl could make it. We don't know it only, but that it was a gating issue, liquidity issue. We knew that Oracle is at the orders, but people didn't believe. We knew that CoreWeave can borrow money endlessly because of the Fourth Industrial Revolution. Some people didn't believe. This is a conversion of people who didn't believe.

That's not early. It's not early when you finally get the short sellers to come.

David Faber (3:21)

No, but wasn't a lot of this, I hate to use the word, but it gets you so much positioning. I mean, the fact that we had a conflict going on with Iran seemingly was headed to an even more hostile place if that's possible.

That's no longer the case. You had a lot of people, a lot of investors who had taken risk off again. Here we are, and everybody suddenly said, whoa, we're not positioned properly, and I got to buy a lot of these names, and so they reenter many of the same trades that were on prior to at least the beginning of hostilities.

Jim Cramer (4:00)

I should have started with that. That's a great way to look at it, and I've got my monthly call today, and I've got to adjust it, because I did not take into account that the reason why we have this tableau, there you go, you see those winners? The reason why we have this tableau is it's allowed to be happening. It's allowed to happen because of the narrative that the president is saying about the big win and the regime change. Very good article. You know, we see these articles and just say, listen, there's a dual track. I don't want to say that one track is right, one track is wrong because I don't want to make that judgment. What matters to us, because we're stock people, is if you take Iran off the table, you see what's going on. And we are in a real battle, David, in tech between people who didn't believe and people who did and people who thought that it was going to wipe out all of software and people who say it's only going to.