Squawk on the Street FedEx Beats, Super Micro Plummets, Cramer: Markets Are Oversold 3/23/26
Mar 23, 2026
Phil LeBeau, CNBC senior automotive and aviation reporter on the LaGuardia runway collision and airport impacts. He describes on-the-scene crash coverage and the NTSB probe. Short takes cover airline exposure to jet fuel, fare implications, and how the incident ripples through airport operations and travel recovery.
AI Snips
Chapters
Transcript
Episode notes
Markets Reacted Immediately To Postponed Strikes
- David Faber and Jim Cramer link President Trump's postponement of strikes to a sharp market rally and a big drop in oil, shifting investor sentiment intraday.
- Futures, airlines, and bond yields reversed quickly on the Truth Social post and comments about talks with Iran, showing geopolitical moves can swing rates and commodities fast.
Interest Rates And Oil Are The Market's Truth Tellers
- Jim Cramer points to interest rates and oil as the real market truth-tellers, saying lower oil plus falling rates would be a big catalyst for stocks.
- He notes bonds reversed intraday, underscoring rates' outsized role in market direction.
Microsoft's Stock Drop Signals AI Competitive Fears
- Jim Cramer and David Faber debate Microsoft's AI positioning, noting a 21% YTD drop reflects investor worry about Copilot and competition from Google/Anthropic.
- Cramer admits Microsoft's capital and OpenAI stake complicate a simple short thesis despite AI execution concerns.