Q2 Playbook, Stocks Extend Big Rally, Nike Tumbles 4/1/26

Squawk on the Street

CNBC

Investing, News, Business

4.0 • 566 Ratings

🗓️ 1 April 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

With the Dow and S&P 500 coming off their worst quarter since 2022, Carl Quintanilla, Jim Cramer and David discussed what investors can expect in Q2 — especially after stocks extended Tuesday's big rally on hopes the Iran war will end soon. The anchors reacted to President Trump's Truth Social post in which he said Iran's "New Regime President" has asked for a ceasefire. Nike shares tumbled after the company issued weak guidance — especially on sales in China — overshadowing a Q3 beat. Hear what Jim said about Nike CEO Elliott Hill and the company's turnaround plan. Also in focus: Intel to buy back Apollo's stake in an Ireland chip factory for $14.2 billion, Oracle slashes jobs, RH plummets, Disney upgraded, "Magnificent 7" outlook after a rough Q1. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:11.1	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kingston, with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange. Bulls try to build on Tuesday's quarter-end rally, which got us back to roughly Thursday's
0:21.8	levels last week.
0:23.6	Yields are lower, but bounce a bit on some better than expected ADP and retail sales data.
0:28.9	Oils back below 100, although retail gas continues its climb, now 406 a gallon per AAA.
0:35.7	Our roadmap begins with optimism for an end to the Iran war, fueling this rebound.
0:39.8	But Iran threatens attacks on Apple, Nvidia, and some other tech giants.
0:44.6	President is set for a primetime address tonight.
0:47.4	Plus oil prices easing with the WTI, as Carl just said, hovering right around $100 a barrel after notching its biggest monthly gain since May 2020.
0:55.5	It's best first quarter ever.
0:58.1	And we're keeping an eye on shares of both Nike and R.H.
1:01.6	They are both down rather sharply in the pre-market.
1:05.3	That is after quarterly results, of course, that we got yesterday.
1:09.1	A trio of downgrades and continued China softness
1:11.8	for Nike, R.H, saying it's being weighed down by tariffs and bad weather.
1:17.4	Let's begin with the market's on track to extend yesterday's rally as we get into Q2.
1:21.5	The president just posted on Truth Social a few moments ago, quote Iran's new regime
1:25.9	president, much less radicalized and far more intelligent than his predecessors, as just asked the U.S. for a ceasefire.
1:33.7	We will consider when Hormuz Strait is open, free, and clear.
1:38.7	Jim again, we'll take this and market will try to digest it and process it best it can.
1:44.0	I think a lot of people think that this whole rally is based on short covering.
1:48.0	People see nothing really important.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.