Oil Drops 5.3% Lifting Stocks; Nvidia Pitches $1T at GTC — SkimNews
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- WTI crude settled down 5.3% to just under $94 per barrel on Monday after briefly topping $100, easing fears that the escalating Iran war could disrupt global oil supplies.
- Cramer credited President Trump "allowing Iranian oil to get through the Strait of Hormuz" for the crude price drop, calling it "all that mattered to the averages."
- The S&P 500 jumped 1%, the Nasdaq surged 1.2%, and the Dow gained 0.8%, recovering from Friday's sharp decline and the index's first three-week losing streak in about a year.
- Nvidia CEO Jensen Huang projected $1 trillion in orders for Blackwell and Vera Rubin chip platforms through 2027 at the GTC developers conference — double the $500 billion estimate from the prior year.
- Nvidia shares closed up 1.65% at $183 per share after back-to-back losses Thursday and Friday; Cramer is set to interview Huang for Tuesday's "Mad Money."
- Research notes had warned just days earlier that if crude kept rising, the S&P 500 could fall as much as 15% to 20% — a scenario that Monday's reversal appeared to neutralize.
Why it matters: Monday's oil reversal erased the risk of a 15-20% S&P 500 drop that research notes had warned about days earlier, while Nvidia's doubled $1 trillion order pipeline signals sustained AI demand despite broader market turbulence. Cramer's Tuesday interview with Huang becomes the next catalyst for AI stock momentum.
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