9AM Hour: Stocks Shrug Off U.S-Iran Tensions, Chips Surge, PepsiCo CEO "First On CNBC" 7/9/26

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 9 July 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber explored stocks rising and oil prices falling, despite the U.S. and Iran trading military strikes for a second consecutive night. Tech and the AI trade getting a big lift from a surge in semiconductor stocks, fueled in part by Micron announcing plans to boost AI spending in the U.S. to $250 billion through 2035. PepsiCo CEO Ramon Laguarta joined the program to discuss the company's mixed quarterly results and the consumer. The anchors grilled him about what it would take to boost the snack and beverage giant's business and sluggish stock performance. Also in focus: Meta AI chip buzz, Costco shares slide on June sales, Salesforce gets downgraded, SK Hynix gears up for its U.S. listing debut slated for Friday. Squawk on the Street Disclaimer

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0:00.0	Market moving insight and analysis.
0:02.1	Join Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street.
0:14.5	Good Thursday morning.
0:15.6	Welcome to Squawk on the Street.
0:16.7	I'm Carl Kintanao with Jim Kramer, David Faber, and post-9 of the New York Stock Exchange.
0:20.6	Chip stocks asserting some leadership this morning on the back of some bullish demand commentary from Amat, news from Micron, Broadcom working with meta, Q2 earnings season warms up with Levi's and now Pepsi.
0:33.0	Oil prices higher after a second night of U.S. strikes on Iran, and now retaliation from Iran
0:38.3	on sites in Bahrain, Kuwait and Jordan. Hormuz traffic has essentially collapsed.
0:43.3	A roadmap begins with the chips, though, leading that bounce ahead of the open as investors shrug
0:47.3	off some of those Iran strikes.
0:48.3	Plus, META is reportedly planning to put its custom AI chips into production in September. This is it looks to double its overall computing capacity over time. And we're keeping in eye. Pepsi consumer headwinds. Despite his second quarter of price cuts, the company saying economic concerns continue to weigh on demand. Pepsi shares are under some pressure this morning. We're going to break down the quarter with Batman right there.
1:13.5	He's the CEO, Raymond, Eduardo. That'll be the salary.
1:19.2	Let's begin with stocks, though, and the oil markets after the U.S. and Iran did trade strikes for a second consecutive night. This is the president on Air Force One last night talking about dealing
1:23.6	with Iran.
1:26.7	We have many ways we can win, but we've already won militarily.
1:30.3	They have very little left, and they want to make a deal so badly.
1:35.3	They called a little while ago they want to make a deal so badly.
1:39.3	I just don't know if they're worthy of making the deal.
1:41.3	I don't know that they're going to honor the deal.
1:43.3	Jim, we mentioned that tanker traffic has slowed down appreciably. The other story is diesel.
1:50.0	And now that Russia's banning diesel exports, they're the second biggest exporter, up 11% yesterday.
1:56.0	No, and that's business. That's who it impacts. It's business to business gasoline, and it's not good for the numbers.
	...

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