Stocks and Oil Rise, Not So "Magnificent 7," Sysco Tumbles on $29B Deal 3/30/26

SPEAKER_1 (0:00)

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SPEAKER_2 (0:28)

Oh, could this vintage store be any cuter?

SPEAKER_3 (0:31)

Right? And the best part? They accept Discover.

SPEAKER_2 (0:33)

Accept Discover? In a little place like this?

SPEAKER_4 (0:36)

I don't think so, Jennifer.

Carl Quintanilla (0:38)

Oh, yeah, huh.

SPEAKER_3 (0:39)

Discover is accepted where I like to shop.

SPEAKER_6 (0:41)

Come on, baby.

SPEAKER_3 (0:42)

Get with the times.

SPEAKER_2 (0:43)

Right. So we shouldn't get the parachute pants?

SPEAKER_3 (0:47)

These are making a comeback.

SPEAKER_6 (0:50)

I think.

SPEAKER_3 (0:51)

Discover is accepted at 99% of places that take credit cards nationwide. Based on the February 2025 Nielsen Report.

Jim Cramer (0:58)

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 (1:05)

Good Monday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber, a post-niner at the New York Stock Exchange. Oils have been stubborn this morning, holding 100, Brent near 115 Retail gas now averaging 399 a gallon. Futures are brighter, although the S&P is on track for its biggest monthly loss. In about three and a half years, Nasdaq 100 down 10 of the past 11 weeks. Our roadmap begins with the president saying the US is in, quote, serious discussions to end military operations in Iran, also threatening to attack that country's energy infrastructure if a deal is not shortly reached.

David Faber (1:40)

Plus, some new reporting this morning shows some private credit fund managers such as Blue Owl and Aries do have more software exposure at least than you might think from their filings. We'll get to that and we'll also take a look at meta shares. They're now down more than 20 percent year to date. But there is some positives out there this morning. One firm saying sentiment has bottomed. Time to buy, they say.

Jim Cramer (2:04)

I say yes.

David Faber (2:05)

You say yes.

Jim Cramer (2:06)

Yes. But we'll go over to back.

SPEAKER_9 (2:07)

We've done a lot of work on that.

Carl Quintanilla (2:09)

Let's begin, though, with the market volatility and the Mideast conflict. Hours ago on Truth Social, the president posted the US has made great progress in talks with Tehran to end the war. Went on to say if a deal is not shortly reached, the US will blow up and completely obliterate Iran's electric generating plants, oil wells, Karg Island, mention the desalination plants, and there is well, Jim.

Jim Cramer (2:32)

Yeah, I think the problem is that you usually have this interim where the president says something like this, the talks are going well, but we're going to blow you, the king will come. And then we find out from Iran there were no talks. David, this has been a back and forth that we've not been able to put to bed because the market trades up because we think there's talks. Maybe there are talks, but we get the Iranian denial, and that leaves us hanging, going over the cliff.

David Faber (3:00)

What are we doing now? Yeah, well, it's a very, very difficult market in which I would think to make any real decisions, at least if you're basing them on what's going on day-to-day here, and the price of oil, and the macro economy, and rates. By the way, I would come back to that because the 10-year, where were we?

Carl Quintanilla (3:18)

4-4, Carl? As of Friday, yeah, we're getting a little relief today. That's right.

David Faber (3:24)

And that's an odd thing to see in some ways, given the market's decline and a number of other things that have gone on that you wouldn't typically associate with that. I don't know if that's fewer countries buying our debt right now, or what that may reflect.

Jim Cramer (3:37)

It is odd that rates are down today. I mean, we seem to take one commodity after another, today's aluminum, one commodity after another going up. So typically, you should be able to create a view of materials commode, materials inflation, which I think is definite. But again, if you think the president's right, then you're going to say that oil's going to plummet. I just am so used to the Iranians immediately refuting and then starting the bomb again. And it's not like the US has stopped. So I just don't know. But people are taking action on it. I don't know why this time is different. I don't.