Carl Quintanilla, Jim Cramer and David Faber discussed a lot of news for the markets to digest: April CPI surged to 3.8% year-on-year on the spike in gasoline prices. The S&P 500 and Nasdaq pulled back from record highs and crude oil prices jumped amid heightened tensions between the U.S. and Iran. President Trump is heading to China Tuesday night for high-stakes meetings with President Xi. Nvidia CEO Jensen Huang was not on the list of business leaders joining the president's delegation on the trip. Jim co-hosted the show from FedEx headquarters, where he will interview CEO Raj Subramaniam Tuesday night on "Mad Money." Also in focus: eBay turns down GameStop's $56 billion unsolicited takeover offer, a tough day for parabolic tech stocks.

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CNBC Investing Club: Cramer’s Morning Take on Qnity 5/12/26

CNBC’s “Squawk on the Street” with Carl Quintanilla, Jim Cramer, David Faber and Sara Eisen is broadcast from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds.