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Squawk on the Street

Markets and the Israel-Iran Conflict, Netflix Slumps, New Woes for Tesla 4/19/24

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 19 April 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla and Jim Cramer discussed what to make of the markets trying to shrug off Israel's early Friday retaliatory strike against Iran -- with the S&P 500 and Nasdaq in the midst of five-session losing streaks. The anchors also reacted to Netflix shares down sharply, as soft Q2 revenue guidance overshadowed a Q1 beat and 9.3 million additional subscribers. Tesla to recall nearly 3,900 Cybertrucks -- as the stock tries to stave off a sixth consecutive day of losses. Also in focus; Earnings from Procter & Gamble and American Express, Paramount surges on buyout bid reports, the latest challenges for Apple in China, Meta CEO Mark Zuckerberg on AI investment, why Trump Media shares continue to rebound. Squawk on the Street Disclaimer

Transcript

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0:00.0

It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street.

0:04.7

Don't miss a minute of the action.

0:07.6

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kinteneo with Jim Kramer

0:10.8

at Post 9 of the New York Stock Exchange. Faber has the morning off. Futures do recover what

0:14.9

was a nearly 2% drop as Iran so far, not signaling retaliation for the Israeli strike last night.

0:21.7

Oil is lower, yields lower across the curve as we wrap up the week with some blue chip earnings.

0:26.4

Our robot begins with Israel carrying out this limited strike against Iran.

0:29.9

We'll take you live to the Middle East for the latest on the ground.

0:32.4

Netflix, the biggest pre-market laggard on the S&P, despite posting a beat on the top and the bottom line.

0:38.3

And Tesla's on pace for a sixth straight day of losses, now issuing some recalls for the

0:43.9

cyber truck over faulty accelerator pedals.

0:47.9

Let's begin, though, with market reaction to Israel's retaliatory strike on Iran, Jim.

0:53.5

So far, not a lot of signals that this is going to cause

0:57.0

a conflagration. No, I mean, I talked last night about what we need in mid-money of Wush,

1:01.8

a crescendo of selling. At 10-15, we thought we had that last night. The fact that we now

1:09.2

have decided that it wasn't important, but we decided that it is

1:14.6

less relevant.

1:16.2

So we've come back up is, again, something I don't want to see.

1:20.3

We have to have people decide that negatives are negatives, not that an avoidance of a negative

1:26.8

is a positive.

1:28.0

So I want to hear more from Richard Engel about Israel, but the fact is that we were down

1:33.2

so much and then we come in and then we're up, why are we up for?

...

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