The DOJ's Powell Probe, Trump Slams Exxon Mobil, Apple-Gemini AI Connection 1/12/26

Carl Quintanilla, Jim Cramer and David faber led off the show with the "Sell America" trade amid worries about Fed independence: Fed Chair Jerome Powell said he is facing a Justice Department criminal probe regarding his Capitol Hill testimony about Fed building renovations. Powell added he believes the investigation is a pretext as part of President Trump's push for lower interest rates. The anchors also reacted to Trump threatening to sideline Exxon Mobil from Venezuela after its CEO Darren Woods said the country's oil market is "uninvestable." Jim discloses what Apple Services chief Eddy Cue told him about Google's Gemini AI. Also in focus: Meta picks a new president, Paramount files a lawsuit against Warner Bros. Discovery, Cramer discusses news coming out of the J.P. Morgan Healthcare Conference in San Francisco — and previews his upcoming CEO interviews from that event. Squawk on the Street Disclaimer