Squawk on the Street Trump Iran War Speech Sends Stocks Tumbling and Oil Prices Surging, Tesla Deliveries Miss, Blue Owl Redemptions 4/2/26
Apr 2, 2026
A fast-paced market recap of stocks tumbling and crude oil surging after a presidential primetime Iran address. Discussion of Tesla missing Q1 delivery forecasts and SpaceX filing for a major IPO. Deep dive into Blue Owl limiting redemptions and broader private credit liquidity stress. Energy and data center sectors stand out while travel and gasoline pains ripple through the market.
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Avoid Blue Owl For Now
- Avoid owning Blue Owl amid private credit liquidity concerns after it limited redemptions to 5% for two funds.
- Jim Cramer and David Faber emphasize this is a liquidity issue, not yet broad credit deterioration, so be cautious with private-credit exposure.
SpaceX IPO Could Be Massive And Oversubscribed
- SpaceX confidentially filed for an IPO potentially valuing it near $1.75 trillion, stirring expectations of a massive, highly subscribed offering.
- Panelists note valuation uncertainty but predict strong investor demand given Elon Musk's track record.
Starlink Competition Scales Up
- Low-orbit satellite competition is heating with Amazon and Bezos' Blue Origin targeting Starlink's turf; Apple owns spectrum and Globalstar stake.
- Panelists warn next-gen Starlink already pressures cable stocks like Comcast and Charter.
