Trump on Capitol Hill, Home Depot's Tariff Message, Musk Countdown 5/20/25

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Carl Quintanilla (1:02)

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. Good Tuesday morning, welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer at Post 9 of the New York Stock Exchange. Faber's on assignment, getting ready for a big interview today with Elon Musk today on Power Lunch at 2 p.m. Eastern Time. Meanwhile, fairly steady pre-market after Monday's upside reversal, 10-year yields below four and a half.

Our road map this morning, stock's coming off a sixth day of gains. S&P's now about 3% from new highs. Home Depot with a rare miss, but the stock is up on news about the outlook and pricing. And the president goes to the Hill today, this hour, in fact, to rally support for the GOP budget. Let's begin with the markets today, Jim. A lot of discussion about why retail came in middle of the day.

Jim Cramer (1:53)

I know, but I think that it's all coming down to cadence. And I do think that Home Depot's got two things going forward that the others don't. One is that this is gardening season, and I was out there with Home Depot in February, had been a bad month because of weather. So when we saw the actual number, we were very happy. And then Home Depot came out with something that we all wish Walmart had come out with, which is no increase because of the tariffs. But Home Depot is king, and they're able to say to a couple of captive suppliers, forget about it. Oh, look who we got here, the president.

Carl Quintanilla (2:27)

President arriving almost exactly on time to Capitol Hill today as he makes some remarks.

Donald Trump (2:33)

I don't think we've ever had a party like this. There are some people that want a couple of things that maybe I don't like or that they're not going to get.

But I think we're going to have tremendous, not luck. We have tremendous talent. This man has done an incredible job as speaker. You know, we had a majority of one. We were one heart attack away from losing the House. Okay? Now we have seven. That's a big because we won some elections, as you probably noticed, and we're going to win a lot of elections. We have an economy that's roaring. We took out 5.1 billion. If you take a look, 5.1 trillion with a T, not a B.

5.1 trillion out of the Middle East, they're investing more than that. It's going to be ultimately more than that. They've got 180 wide-body Boeing aircraft. They're spending money at levels that nobody's ever seen. Usually, a president goes for a trip and he loses money. In other words, he gives money. We went for a trip, but we took out 5.1 trillion dollars. Nobody has ever seen anything like it. And that's just the beginning. So I think we're going to I think we're a very unified party. The Senate is doing great. John Thune is doing fantastic. He's a great guy. And we're going to have a bill, the one big, beautiful bill. I think it's going to be the biggest bill ever passed. And we got to get it done. Tremendous tax cuts for people, tremendous incentives, tremendous regulation cuts, all these regulations that are so horrible. And now you found out, and find out what happened. Because Biden, look, it's a very sad thing what happened. But I really, we're going to start looking into this whole thing with who signed this legislation. Who signed legislation opening our border? I don't think he knew. I said there's nobody that could want an open border. Nobody. And now I find out that it wasn't him. He auto-pended. Who was operating the auto-pend? This is a very serious thing. We had a president that didn't sign anything. He auto-ped almost everything. He opened the borders of the United States of America. And I kept saying, who would do such a thing, allowing criminals to pour in from all over the world, not just South America, all over the world. They came in from Africa. They came in from Asia. They came from the Congo. The prisons in the Congo, in Africa, these are rough people. The prisons from the Congo are empty. You know where they are? They're in this country. Who would sign this? Nobody would sign it. No sane person would sign it. You know who signed it? Radical F. Lunatic, that were running our country. And the auto pen signed it. And they didn't want him, and they were disappointed in getting him because they wanted Bernie Sanders. And then after about two weeks, they said, wait a minute, this is a gift. He'll do anything. We're going to use the auto pen. And they used the auto pen and everything. He didn't approve this stuff because when Joe Biden was with it, he would never have approved it. You take a look. He would have never approved open borders. Go ahead, another resident.