Carl Quintanilla and Jim Cramer explored why stocks have rebounded from Monday's decline, which was sparked by Fed Chair Jerome Powell saying he would not rule out larger interest rate hikes in order to combat inflation. The anchors also discussed Nike's better-than-expected quarterly results: The stock topped the list of Tuesday's gainers on the Dow and S&P 500. Alibaba also joined the rally and lifted beaten-down China stocks after announcing it would boost its stock buyback program to a record $25 billion. Also in focus: Carnival's wider-than-expected loss, Tesla opens its German "Gigafactory," Disney's staffing challenges, the Boeing jet crash in China, and Cramer on the retail shopping rebound. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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Squawk on the Street