Markets and the Supreme Court Tariffs Ruling Aftermath, Novo Nordisk Tumbles, Winter Storm Impact 2/23/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 23 February 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Entering the final trading week of February, Carl Quintanilla, Jim Cramer and David Faber explored what's at stake for the markets, especially after Friday's Supreme Court ruling that struck down many of President Trump's reciprocal tariffs — and the president responding with plans to raise global tariffs by 15%. Shares of Novo Nordisk tumbled: Trial results show its next-generation obesity treatment was less effective than the Eli Lilly drug marketed as Zepbound and Mounjaro. Also in focus: The winter storm blasting the Northeast results in more than 10,000 flight cancellations, Alphabet upgraded, software stocks downgraded, AI roundup, Netflix-Warner latest from Ted Sarandos to Susan Rice and Trump. 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's Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:07.8	Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Jim Kramer, David Faber,
0:11.8	post-9 of the New York Stock Exchange. Future's a bit soft after the S&P's first positive week in three.
0:18.5	Lot to process after Friday's SCOTUS decision. The EU may move to
0:22.5	halt approval of its U.S. trade deal. Big week of earnings from NVIDIA to Home Depot plus state of the
0:27.8	union. Our roadmap begins with the fallout after the Supreme Court struck down Trump's tariffs.
0:32.7	Trump's saying he will now move to hike global tariffs to 15.
0:36.9	Plus travel chaos as the winter blizzard cripples the Northeast, forcing thousands of flights
0:42.7	to be grounded.
0:44.7	And the U.S. and Iran are set to resume talks.
0:47.0	This comes as the president reportedly weighs a larger attack on Iran if diplomacy or an initial
0:53.1	smaller strike doesn't force the country to stop its nuclear
0:57.1	program. Let's begin with this winter storm blasting the northeast, according to forecasts.
1:02.8	Some areas could be hit with up to two feet of snow. You got blizzard warning stretching from
1:07.2	Maryland to Maine, including the first for New York City since 2017.
1:12.2	Hundreds of thousands are without power.
1:14.0	Since yesterday, more than 10,000 flights have been canceled, according to Flight Aware.
1:18.1	Today, there have been more than 9,000 delays.
1:22.1	Not exactly what the air travel industry needs, Jim, especially with this partial shutdown still in place.
1:27.2	Well, and what happened last week? That group fell apart, even after Americans said that the first two months of the year were good. We don't want to lose the travel bull market. People felt the company bookings was a little bit soft, too. I mean, David, if you remember the numbers that the president was talking about, like we had the government shutdown and that knocked off 0.9% of growth. Yeah. When you have these, we used to say,
1:44.9	uh-oh, bad. president was talking about like we had the government shutdown and that knocked off 0.9% of growth.
	...

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