Stocks and Oil Rise, Not So "Magnificent 7," Sysco Tumbles on $29B Deal 3/30/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 30 March 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

With the Dow and S&P 500 in the midst of five-week losing streaks, Carl Quintanilla, Jim Cramer and David Faber explored why both stocks and oil prices kicked off the holiday-shortened week with gains. The anchors reacted to President Trump's Truth Social post which included optimism and threats when comes to talks with Iran aimed at ending the war. The Magnificent 7's rough 2026 also in in the spotlight: Meta and Microsoft in the bears' grip, Goldman Sachs' note on Nvidia, Melius' case for Apple. Also in focus: Anthropic and the demise of its Sora video app, Sysco shares tumble on the food services company's deal to acquire catering supplier Jetro Restaurant Depot for $29 billion in cash, stock and debt. 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.
0:24.1	Don't miss a minute of the action. Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Jim Kramer, David Faber, post-night of the New York Stock Exchange. Oil is a bit stubborn this morning, holding 100, Brentnear 115. Retail gas now averaging $3.99 a gallon. Futures are brighter, although the S&P is on track for its biggest monthly loss. In about three and a half years, NASDAQ 100 down 10 of the past 11 weeks. Our roadmap
0:31.8	begins with the president saying the U.S. is in, quote, serious discussions to end military operations
0:37.0	in Iran, also threatening to attack
0:39.1	that country's energy infrastructure if a deal is not shortly reached.
0:42.9	Plus some new reporting this morning shows some private credit fund managers such as Blue
0:47.0	Al and Aries do have more software exposure, at least than you might think from their filings.
0:52.6	We'll get to that. And we'll also take a look at
0:54.6	meta shares. They're now down more than 20% year to date. But there is some positives out there
1:01.9	this morning. One firm saying sentiment has bottomed time to buy, they say. I say yes. You say yes, too.
1:08.7	Yes, but we'll go over to back. which I've done a lot of work with them.
1:11.8	Let's begin, though, with the market volatility and the Mideast conflict. Hours ago on Truth Social, the president posted, the U.S. has made great progress in talks with Tehran to end the war. Went on to say, if a deal is not shortly reached, the U.S. will blow up and completely obliterate Iran's electric generating plants,
1:28.8	oil wells, Karg Island, mentioned desalination plants in there as well, Jim.
1:34.2	Yeah, I think the problem is that you usually have this interim,
1:38.0	where the president says something like this.
1:40.2	The talks are going well, but we're going to blow you the king who'll come.
1:43.6	And then we find out from Iran there were no talks.
1:46.4	David, this has been a back and forth that we've not been able to put to bed
1:52.1	because the market trades up because we think there's talks.
1:56.3	Maybe there are talks, but we get the Iranian denial.
1:59.3	And that leaves us hanging, going over the cliff.
	...

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