Squawk on the Street

Market reactions to recent Middle East strikes and possible oil effects are discussed. Semiconductor dynamics and DRAM pricing risks from Micron, SK Hynix and Samsung are highlighted. Reports of a big Apple smartphone sales gain in China are covered. A strong case for buying Apple is presented based on supply and margin considerations.

Neil Dingman, William Blair energy analyst, explains oil, LNG and supply shocks amid Middle East tensions. Dom Rizzo, T. Rowe Price portfolio manager, breaks down semiconductor supply, Micron and AI-driven chip demand. Sasan Ghodrzi, Intuit CEO, discusses buybacks, AI in tax and product strategy. They talk markets, energy, semiconductors and corporate AI moves in quick, market-focused segments.

Sanjay Mehrotra, CEO of Micron Technology and memory-chip veteran, discusses Micron's blowout quarterly results and upbeat AI-driven demand. He talks about tight memory supply, why capacity ramps will lag until 2028, and prioritizing HBM, DRAM and NAND. They also cover long lead times for equipment and Micron's U.S. manufacturing investments.

They debate how a U.S. strike pushed oil futures and rattled markets. They dig into oil price psychology as WTI nears $100 and what that means for stability. Technical indicators showing oversold conditions get a quick look. A heated rebuttal of a major downgrade on a big health-care drugmaker takes center stage.

Eamon Javers, Washington-based correspondent who covered the White House announcement and Jones Act waiver live, discusses the 60-day Jones Act waiver and its market implications. He reports on related oil supply and regional fuel impacts. He also touches on Middle East developments and how geopolitical tensions could ripple through commodities and markets.

They dig into a sudden oil spike and a hotter-than-expected PPI and how those shocks could pressure the market. The Fed decision and its inflation signal loom large amid Iran-related risks. A big segment covers Jensen Huang’s new AI agent OpenClaw and the idea of Nvidia reaching unprecedented market value. Also covered: red-hot memory chip stocks, corporate moves at Disney and a notable Starbucks downgrade.

Torsten Slok, Chief Economist at Apollo Global Management, offers macro perspective on inflation, Fed policy, and geopolitical shocks. He discusses why rate cuts are unlikely this year. Short takes cover oil-driven inflation risks, AI-driven growth tailwinds, and timing uncertainties around productivity and labor effects.

Discussion of rising crude and diesel prices amid Middle East tensions and why markets stay resilient. Debate over Jensen Huang's $1 trillion AI chip revenue forecast and the chips-led rally. Analysis of airline strength after Delta guidance and the outlook for Disney as leadership changes. Exploration of AI company valuations, cloud inference strategies, and shifting demand across CPUs and chips.

Discussion of falling WTI crude and how lower oil prices are nudging investors toward buying. Exploration of oil price drivers, including geopolitics and tanker transit concerns. Debate about whether private credit worries are overblown and how that shapes market sentiment. Notes on Treasury and presidential actions that helped calm oil-related market fears.

Fred Kemp, Atlantic Council president, gives geopolitical analysis on Iran, risks to shipping in the Strait of Hormuz, and global economic fallout. Brian Sullivan, CNBC reporter, files live from Paris on China trade talks and speaks with the Treasury Secretary about oil and the strait. They also tackle Nvidia's GTC, market positioning ahead of the Fed, and potential delays around Fed leadership moves.