On the last trading day of the month, Carl Quintanilla, Jim Cramer and David Faber led off the show with market reaction to quarterly results from four of the &quot;Magnificent 7&quot;: Alphabet, Amazon, Meta and Microsoft. The anchors explored which of those tech giants are best positioned in the AI race. Hear what top executives from the four companies said on their respective earnings calls about capex strategy. Also in focus: Shares of Caterpillar and Eli Lilly jump on earnings beats, Nvidia and the AI trade, President Trump lauds the Intel rally as the stock more than doubles in April, Elon Musk back on the stand at the OpenAI trial, PCE — the Fed&#x27;s preferred inflation gauge — posts its biggest gain in almost three years in wake of the Iran war.<br><br>Squawk on the Street Disclaimer<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Earnings Parade: Market Reaction to Mag 7 Results, Caterpillar and Lilly Surge 4/30/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Carl Quintanilla** (CNBC)
- **Jim Cramer** (CNBC)
- **David Faber** (CNBC)
- **Kate Rooney** (CNBC)
- **Rick Santelli** (CNBC)
- **David Ricks** (Eli Lilly)

## Transcript

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[SPEAKER_17] Market moving insight and analysis. Join Jim Cramer, David Faber and me, Carl Quintanilla on the opening bell hour of CNBC's Squawk on the Street. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber, post nine of the New York Stock Exchange. Future surge on several blowout earnings from Alphabet, Caterpillar, Lilly as the S&P closes out the month of April. Best month since November 2020. Q1 GDP meantime up 2% thanks to this AI CapEx boom.

[SPEAKER_17] Oil's been all over the map. A $13 swing for Brent overnight as reports suggest the president may be briefed on plans to potentially resume some military strikes on Iran. Our roadmap begins with that deluge of big tech earnings and the AI boom. Alphabet, Amazon, Meta, Microsoft all showing no signs that CapEx spending will slow anytime soon.

[SPEAKER_09] Plus there is a slew of other earnings crossing the tape. We're going to get to them as well this morning. They include Caterpillar, Eli Lilly, Merck, Qualcomm to name just a few. And we're keeping a close eye on oil prices. They hit a new wartime high. The national gas price average, by the way, also hit $4.30. The standoff in Iran shows no sign of slowing down.

[SPEAKER_17] Let's begin with the markets on track for a higher open, as you can see, after the release of those Mag 7 earnings late yesterday. Jim, you kind of ranked them last night in order of preference.

[SPEAKER_10] First of all, can I just say they were two of them were unbelievable and maybe two of the best reports I've ever seen. People are going to say Cap was great today, but the Google call. All right, Alphabet was an extraordinary call. And I think with the stock at $370...

Earnings Parade: Market Reaction to Mag 7 Results, Caterpillar and Lilly Surge 4/30/26

Transcript

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Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Earnings Parade: Market Reaction to Mag 7 Results, Caterpillar and Lilly Surge 4/30/26

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.