April Rally for Stocks, Oil Jumps on U.S.-Iran Tensions, M&A Monday: Lilly's Cancer Drug Deal 4/20/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 20 April 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber drilled down on what to make of this month's big market rally after stocks hit record highs last week. Oil prices back on the rise after last week's double-digit decline, as the U.S.-Iran standoff over the Strait of Hormuz intensifies. M&A in the spotlight: Eli Lilly has agreed to buy cancer drug maker Kelonia Therapeutics for up to $7 billion, American Airlines rejects merger talks with United Airlines, QXO agrees to buy TopBuild in a $17 billion deal to create a building products giant. Also in focus: Google reportedly in talks with Marvell to build AI chips, software stocks' big rebound, the Meta layoffs picture, why Avis shares have soared more than 380% in a month. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here.
0:01.3	You're listening to the opening bell of CNBC's Squawk on the Street.
0:04.6	Don't miss a minute of the action.
0:13.1	Good Monday morning.
0:14.1	Welcome to Squawk on the Street.
0:15.0	I'm Carl Keatsineo and Jim Kramer, David Faber, post-night of the New York Stock Exchange.
0:18.5	Watching energy today, biggest gain in a couple of weeks, as the market waits to see if Iran will attend this new round of talk scheduled in Islamabad tomorrow.
0:27.1	Equity futures off the morning lows and, of course, coming off Friday's S&P NASDAQ record highs.
0:31.9	Big week ahead with some industrial airlines and consumer earnings too.
0:36.3	Our roadmap begins with this tech-fueled rally,
0:38.5	with the NASDAQ coming off the longest win streak since 92, but signs of a shaky ceasefire
0:44.3	weighing on sentiment ahead of the open. Plus airline stocks under pressure this morning. This says
0:48.7	investors, of course, worried that renewed U.S. Iran tensions are going to keep energy prices elevated.
0:53.7	And also, American says, no way on that possible U.S. Iran tensions are going to keep energy prices elevated. And also, American says, no way on that possible United tie-up that was reported around last week.
1:01.7	The NSA reportedly using Anthropics mythos, despite the Trump administration's so-called blacklist of that company,
1:08.4	while the White House holds what it calls productive talks with
1:12.0	anthropic.
1:12.8	Let's begin with the markets.
1:16.3	We mentioned this win streak for the NASG.
1:19.0	If we get a gain today, you've got to go back to 87.
1:22.2	Really, right.
1:23.0	Ooh, 87, wish I wanted that.
	...

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