Trump Iran Deadline Watch, Anthropic/Broadcom/Google Deals, Health Insurers Rally 4/7/26

SPEAKER_1 (0:00)

This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information-packed daily market preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions and key results and statistics that may impact your trading. Download the latest episode and subscribe at schwab.com/marketupdatepodcast or find Schwab Market Update wherever you get your podcasts.

SPEAKER_2 (0:28)

You've never been one to settle. Stand down or stand still. You're a lifelong learner, energized by excellence. There's a fire inside you, you can't ignore. You've got competition to outrun, momentum to build on, and your own high standards to meet. Stop now, not a chance. At Capella University, we help you catch what you're chasing because you've always had the drive. Now, go earn the degree. Capella University, what can't you do? Visit capella.edu to learn more.

Jim Cramer (0:59)

It's Jim Cramer here. You're listening to the opening bell of CNBC Squawk on the Street. Don't miss a minute of the action.

Carl Quintanilla (1:12)

Good Tuesday 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. Oil close to multi-year highs this morning, as Iran shows no sign yet of agreeing to the president's 8 p.m. deadline to open the Strait of Hormuz. And the president does write in a post, a whole civilization will die tonight if that deadline isn't met. Equity futures have unwound some brief gains. VIX still above 25 February durables were a slight beat. Our roadmap begins with that deadline tonight. The president threatening complete demolition of Iran's infrastructure if that deal isn't reached.

David Faber (1:45)

Broadcom is the best pre-market performer on the NDX. It's striking a new deal with both Anthropic and Alphabet's Google unit, plus huge new Anthropic revenue numbers. We'll give you those details. And also surging are the health insurers. The Trump Administration increases average Medicare Advantage payments above what we thought they were going to be. And the rally is underway as a result.

Carl Quintanilla (2:09)

Let's begin with the markets. This oil today and this deadline tonight, as these new reports this morning say, the US has already conducted a wave of strikes across Iran. And according to the Journal, Jim, on Carg Island, where they're reportedly going after military assets, not yet oil infrastructure.

Jim Cramer (2:26)

Right. And I think that you could see the way things worked overnight. You had West Texas be up at one point. I'm going to now use these percentages. Up a hundred and two, and then it fell back down just a little bit because we didn't have a new announcement. And then this last announcement, David, really, I think, shocked people. And now West Texas is up a hundred and two percent for the year, which typically means that you're going to enter a bear market. That is obviously not happening.

David Faber (2:52)

Are you surprised the market is actually not reacting in a more pronounced way to this post? I mean, I know you read it already. But we will find out tonight one of the most important moments in the long and complex history of the world.

Jim Cramer (3:07)

Right. I think that there are people who think that his hyperbole is only equal by the fact that he won't do what he says. I don't know, Carl, I think this is the one where, unless we have some true sign from Iran that says, OK, we do not like what's happening, and we want to wait while we open the Strait, I just think that there's just, I don't know how else he gets out of doing what he says he's going to do.

SPEAKER_6 (3:38)

I really don't.

Carl Quintanilla (3:39)

I assume you looked at Symbolist's note yesterday with some fascinating statistics about, one example, the average peak temperature in the Persian Gulf in June, 126 degrees.

Jim Cramer (3:52)

And if you're in one of those vehicles, it's 176 degrees. And one of the things that Symbolist from JP Morgan does is, he kind of just looks at the world another way. And David, you may think that ground troops, well, that's what has to happen. And then you read him and you realize that someone in the Pentagon knows these numbers and they have to tell the president, this won't work. I don't want to be that person if the Pentagon says it won't work, but you have to sit. What?

David Faber (4:23)

It's a beautiful time.

Jim Cramer (4:24)

I got it in Mexico.

David Faber (4:25)

Thank you.

Carl Quintanilla (4:26)

Well done. I was questioning.