Squawk on the Street 4/17/26

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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 Friday morning, welcome to Squawk on the Street. I'm David Faber with Jim Cramer. We're here at close nine of the New York Stock Exchange. Let's start out with a look at energy prices. You've heard at the end of Squawk Box some potential headlines from the foreign minister of Iran saying that the straight hardcore moves is quote, completely open in line with the ceasefire in Iran. And that has sent crude to new lows, and recent lows obviously has been far lower than that.

But new lows in the market is now looking far higher as well. So we're going to get into that obviously, and a lot of other things.

Jim Cramer (1:56)

Jesus, down 8% now.

David Faber (1:59)

Yeah, in line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire on the coordinated route, as already announced by Ports and Maritime Organization of the Islamic Republic of Iran. That is on the X platform, but our colleagues at MSNOW have been reporting and confirmed that it is in fact the Iranian foreign minister. So we have to assume that is correct.

Jim Cramer (2:26)

Maybe that's why we rallied 3%, 3% or 3%. Maybe that's what this rally was about, as opposed to thinking everything is now better.

David Faber (2:34)

I know in many ways, though, given the week that we have had, it's as though the market, so to speak, has said, well, the war, I mean, it was over a week ago. We're not worrying about the war anymore.

Jim Cramer (2:45)

So if we're going to take the market up on a Friday because of the straight, I think that, why?

We've been going up and up and up because we felt that the war was over. So now when we see something that's like this, the stock market is not going to do what people think it should do, which is go higher. You had to take the risk that this would happen and make the money. The guys who come in now, David?

David Faber (3:10)

Yeah.

Jim Cramer (3:11)

I don't know. I mean, how can they get a lot of money? There's no risk.

David Faber (3:14)

Well, I mean, and what a week it's been, and it would appear that we are gonna end, certainly when we begin trading 28 minutes from now with a very significant rally on top of what already has been a rather extraordinary week, frankly. We have returned Jim to, and they were talking with analyst Stacey Raskin from Bernstein on Squawk, but we have returned to the overall theme that drove so much, which is we're short compute, we need more data centers, we need everything that goes in the data center, and therefore we're gonna buy shares of, and you name it, right?

Jim Cramer (3:46)

But not NVIDIA, NVIDIA still hasn't gone up as much as I'd like.

David Faber (3:48)

NVIDIA has not gone up as much as the others. And by the way, to be fair, I'm sorry, TSMC yesterday, after very strong earnings did not go up, or SML.

Jim Cramer (3:57)

But David, it's all about, and TSMC, what they said, Taiwan Semi, was that the VIRRUBIN, which is the latest of NVIDIA, needs a lot of CPUs. And that was the clarion call to go by Intel, which I don't think is a buy, and go by AMD, which hit an all-time high.

David Faber (4:17)

It did hit an all-time high. By the way, what a week Oracle has had, up 30%.

Jim Cramer (4:21)

David, that's a short squeeze.

David Faber (4:22)

What a week CoreWeave has had.

Jim Cramer (4:24)