Ceasefire Rally, Powell Testimony Day 1, Exclusive: Visa CEO on Stablecoins and the Consumer 6/24/25

Squawk on the Street

CNBC

Investing, News, Business

4.1 • 567 Ratings

🗓️ 24 June 2025

⏱️ 47 minutes

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Summary

Carl Quintanilla, Jim Cramer and David Faber discussed stocks getting a boost and oil prices sliding in reaction to President Trump declaring the Israel-Iran ceasefire "in effect" -- shortly after he accused both countries of violating the truce. The anchors also explored what to expect from part one of Fed Chair Jerome Powell's Capitol Hill testimony on the economy, starting Tuesday before the House Financial Services Committee -- as President Trump continues to pressure Powell to cut rates. Visa CEO Ryan McInerney joined the program exclusively to discuss the company's stablecoin strategy and the state of the consumer. Also in focus: Carnival surges on earnings, KB Home cuts guidance. Squawk on the Street Disclaimer

Transcript

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0:00.0	I'm David Faber. Join me, Carl Kintanilla, and Jim Kramer for the opening bell hour of
0:04.8	CNBC's Squawk on the Street, the podcast. Subscribe for free wherever you listen, and you can always
0:10.9	catch us live weekdays at 9 a.m. Eastern on CNBC.
0:20.8	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanian with Jim Kramer, David Faber,
0:24.9	at post-9 of the New York Stock Exchange. Pre-market is holding gains, even after the president says Israel and Iran violated the ceasefire. He announced last night.
0:33.3	Oil is still below 66. Powell's on the hill today. He'll say the Fed is well positioned to wait before
0:38.3	cutting 10-year 435. Our roadmap begins with future spiking as investors continue to navigate this
0:44.1	Israel-Iran conflict. The president blaming both sides for violating that ceasefire. And as Carl just said,
0:49.7	Jay Powell is set to testify before the House Financial Services Committee this morning. This is the
0:54.1	president ramps up his continued pressure on the Fed's share. is set to testify before the House Financial Services Committee this morning. This is the president
0:54.5	ramps up his continued pressure on the Fed share. And we're going to have a rare exclusive with the
1:00.9	CEO Visa. We'll talk about the health of the consumer and as well what the rise of stable
1:06.0	coins may mean for that company's business. Let's begin, though, with market reaction to the
1:10.6	president's messaging on the Israel-Iran
1:12.6	conflict.
1:13.6	This morning on Truth Social, he posted, quote, Israel is not going to attack Iran, adding
1:17.6	that the ceasefire is in effect, but that was shortly after the President accused both countries
1:22.6	of violating the truce.
1:24.6	This is what he had to say at the White House before departing for the NATO summit in the Hague.
1:29.3	I'm not happy with Israel. You know, when I say, okay, now you have 12 hours, you don't go out in the first hour and just drop everything you have on them.
1:39.3	So I'm not happy with them. I'm not happy with Iran either. But I'm really unhappy if Israel's going out this morning
1:45.6	because of one rocket that didn't land that was shot, perhaps by mistake that didn't land. I'm not happy
	...

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