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Rick Newman is Interviewed about Threats to Iran; Wisconsin Supreme Court Race; UCLA Rolls Over South Carolina. Aired 9:30-10a ET

Aired April 06, 2026 - 09:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

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[09:31:05]

KATE BOLDUAN, CNN ANCHOR: Moments ago, opening bell rang on Wall Street. Investors begin the week after a long weekend for markets with a new eye on the war with Iran. Everyone trying to continue to try to make sense of the president's new and shifting ultimatum to Iran. Open the Strait of Hormuz or he'll target all of Iran's power plants and bridges is the latest threat, just as there is also some talk of a proposed 45-day ceasefire that they could be negotiating before the new deadline hits tomorrow night.

Here's a look at where oil stands right now. And this morning, it looks like it's going up a little bit. It had fallen slightly today, but it does still very clearly remain high and now climbing.

Joining me right now is Rick Newman, founder, editor and publisher of "The PinPoint Press."

It's good to see you, Rick.

RICK NEWMAN, FOUNDER, EDITOR AND PUBLISHER, "THE PINPOINT PRESS": Hey, Kate.

BOLDUAN: Can I play a -- I want to offer up a comparison for you to try to make sense of. You have the threat from President Trump just yesterday in his Easter Day missive, saying that "Tuesday is going to be power plant day and bridge day all wrapped up into one." And then he says, "open the f-ing Strait, you crazy bastards, or you'll be in living hell." Clearly an urgent need laid out by the president there. But then compare that to the declaration that he made just last week. Let me play this.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: The United States imports almost no oil through the Hormuz Strait, and won't be taking any in the future. We don't need it. We haven't needed it, and we don't need it.

(END VIDEO CLIP)

BOLDUAN: How do investors in oil markets digest that continued inconsistency? NEWMAN: I don't think they do. So here we are once again. We've been

through this pattern many times. Trump makes these threats of Armageddon and sets a deadline. And markets have been kind of falling for this. I mean Trump -- then Trump gives some signal that maybe there's a deal in the works and everything's going to work out.

But I think it's important to point out. So, you showed the oil price before around $112 for U.S. oil. That has been drifting upward. And that tells you that markets are preparing for just a longer war here and elevated oil prices, I think, indefinitely. So, just remember where we were. Before the war, oil prices were around $65. And when the war started, oil prices did not go up very much because investors and traders thought it was going to be a short war and we're relatively quickly going to go back to where we were.

The market is telling us that we are not going back to where we were anytime soon. So, you know, for all of the bluster coming out of Trump and, of course, for that -- all that uplifting Happy Easter message he gave, markets are saying, we do not see a resolution coming here. And we're getting ready for elevated oil and energy prices maybe well into the summer.

BOLDUAN: And you -- playing in a game of ifs here, but if President Trump would declare victory or mission accomplished, end the conflict, without dealing with the Strait, then the end result of the war would then be what in your view?

NEWMAN: It would be a stronger Iran that has more power over global energy markets than it did before the war. And Trump is stuck on this misconception that if he just bombs more targets in Iran, that somehow that's going to bring them to the bargaining table.

If you look at it from Iran's perspective, I mean I think they are thinking, wow, we didn't used to control the Strait of Hormuz. We just basically monitored it as ships went through freely. And now we control what is arguably the world's most important choke point.

So, if Trump declares victory and Iran controls the Strait of Hormuz indefinitely, number one, it's charging these, you know, tolls of $2 million per ship for tankers to go through.

[09:35:01]

So, that's -- that just gets added on to the price of energy. And on top of that, it decides which ships can pass or not.

And just to remind everybody, Iran only needs to hit or even threaten to hit one tanker and then you've stopped all the tankers because no tanker wants to be the one that takes the incoming drone or the incoming missile from Iran. So, Iran has discovered that it has way more leverage than it might have thought at the beginning of this war. And I don't think any amount of bombing is going to change Iran's view of that.

BOLDUAN: Yes, there's a big concern that that is one big lesson taken from this war, no matter how it shakes out, is how much leverage and how threatened -- how a threatened Strait of Hormuz can have such an impact on global energy supply.

One of the first indicators that people track, of course, and continue to is gas prices. But you also make the point to say, watching interest rates is just as important. Why?

NEWMAN: Yes, this is another way this war is costing us just very simply. I mean interest rates go up when the market or investors think that -- think that we're going to have higher inflation in the future. And they do. That is a direct result of the war because of the pass through from, you know, it's not just oil prices and gasoline. It's diesel fuel, which has jumped by more than gasoline. That affects how much it costs to produce food. Transport, every kind of good that we get in any store. So, that means higher inflation in the future if interest rates have gone up. And we've seen mortgage rates jump by half a point since the war began. And I think interest rates, it's the same with all other interest rates, for a car loan or any other kind of loan or a business loan.

So, you know, we had mortgage rates that were dipping below 6 percent. That was good news for people who have been trying to break into the housing market and really struggling. Well, guess what, they're back up to around 6.5 percent.

And again, there's no relief until we get clarity on what's happening with oil passing through the Strait of Hormuz.

BOLDUAN: Yes.

Rick, it's good to see you. Thanks for jumping on.

Sara.

SARA SIDNER, CNN ANCHOR: All right, new this morning, Savannah Guthrie is back at work at the "Today" show after spending two months away to focus on the search for her missing 84-year-old mother Nancy. Over the weekend, she shared an Easter message about how hard this has been and how it's affected her faith. But on Monday, she made clear she will concentrate on doing her job just reporting the news.

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SAVANNAH GUTHRIE, "TODAY" SHOW HOST: These signs are so beautiful. You guys have been so beautiful. I've received so many letters, so much kindness to me and my whole family. We feel it. We feel your prayers. So, thank you so much.

(END VIDEO CLIP)

SIDNER: Thanking all the people who have been with her throughout this journey. Still, there is no major update in the search for her mother Nancy.

John.

JOHN BERMAN, CNN ANCHOR: (INAUDIBLE) All right, we are in (ph) madness this morning. We have a new women's NCAA champion. And we're waiting on the men's game tonight. The latest on how the teams are getting ready.

And a puppy is rescued from the chimney of an abandoned home. How did he get inside there in the first place?

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[09:42:48]

BERMAN: All right, it is very nearly election day in Wisconsin. This one is for political junkies out there because I think there's no supreme court in the country that is as closely watched, for whatever reason, as the Wisconsin court. There is a supreme court seat up tomorrow. It is a right now conservative held seat. And if liberals are able to flip it -- again, it's not party registration there but think R and D conservative liberal. If liberals are able to switch it, it would give them really an overwhelming majority on that court.

Let's get to CNN chief data analyst Harry Enten.

I can't explain why everyone cares so much about Wisconsin's supreme court, so just take my word for it, we do. What are the prediction markets saying about this race, first, Harry?

HARRY ENTEN, CNN CHIEF DATA ANALYST: No, I'm just a big fan of Green Bay. That's what's going on here.

Look, the bottom line is this, Chris Taylor, the liberal candidate, a heavy, heavy favorite going into tomorrow. Chance Taylor wins the supreme court race. Look at this, 99 percent according to the Kalshi prediction markets. Again, this race is officially nonpartisan. But she's the liberal in this race. And this would take the court from four-three liberal to five-two liberal. Democrats, liberals, very ecstatic going into the polls tomorrow. Of course we'll have to wait and see.

BERMAN: One of the reasons I know we watch Wisconsin so closely is because it's the closest thing I think that we have to a 50/50 state.

ENTEN: Yes. Yes.

BERMAN: It's basically 50/50 in presidential elections. So, we're always looking for trends on who might have an edge there. Where's the enthusiasm?

ENTEN: OK. I think this is why it's so important. Look, political junkies, like John and myself, we're very interested in who controls Wisconsin's supreme court. For the rest of you out there, the normies out there, why is Wisconsin so important? John mentioned, of course, it's split on the presidential level. But more than that, the trends in Wisconsin tend to go countrywide.

What are we talking about in terms of this? Enthusiasms. Enthusiasms, enthusiasms, to quote my dear friend John Berman there quoting somebody else. More enthusiastic voters for 2026. Look at this. At this point for the Wisconsin supreme court race, Democrats have a 19 point edge on extremely motivated, extremely enthusiastic voters. Look how similar that is to what we're seeing in the national polls for the U.S. race for Congress, right? Look at that, Democrats by 17.

So, what happens in Wisconsin, very unlikely to stay in Wisconsin. It is reflective of what we're seeing nationally, which is Democrats are revved up and ready to go.

[09:45:00]

BERMAN: Which we, in fact, have seen in other off year elections, yes?

ENTEN: Yes. This is exactly right. Wisconsin is part of a trend. Talk about the major statewide elections, right? Take a look here. In the 2025/2026 cycle so far, Democrats won in New Jersey, governor. They won in Virginia, governor. Will they win in Wisconsin, supreme court? We'll have to wait and see. But it looks a whole heck of a lot like what we saw back in the 2017/2018 cycle, right? N.J. gov, Virginia gov, Wisconsin supreme court, they flipped the seat there back in 2018. And, of course, Democrats went on to win the U.S. house bigly, bigly back in 2018. Democrats are hoping to go three for three again and therefore they would, in fact, go on and win the House come November.

BERMAN: What has the Trump era meant for the Wisconsin supreme court?

ENTEN: Yes. OK. So, let's bring it back local to Wisconsin, to those cheeseheads who are watching us from the badger state. What does it mean? OK, liberal held Wisconsin supreme court seats. Pre-Trump, liberals only held 29 percent of the Wisconsin supreme court seats. Look at this. If the liberal wins tomorrow, if Taylor wins tomorrow, look at that, 71 percent. Donald Trump has made Wisconsin, at least on the Supreme Court level, a very liberal state.

BERMAN: And this will be a trend that Democrats will hope to carry until November.

Harry Enten, thank you very much.

ENTEN: Thank you, John.

BERMAN: We got a lot of news. We'll be right back.

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[09:50:53]

BOLDUAN: A puppy rescue that needed the fire department. A puppy was trapped on the top of a chimney of an abandoned house in Detroit. The home's foundation was crumbling. So, the Humane Society then called in fire and rescue for help. Fire crews used their ladders, you can see, to reach the puppy and slowly -- oh, poor thing -- slowly bring it back to the ground. They named him Stack. I think that's a cute name. He's now at a shelter getting some medical care. And if you are wondering, we are wondering the same, nobody is quite sure how he got up on top of that chimney.

Elsewhere in Michigan, police tracked down the Easter bunny. Yes, that bunny. He was seen here escaping out of a patrol car window. It's a whole skit, obviously, that was inspired by a viral video of a handcuffed woman who escaped through a cruiser window. She was eventually taken into custody, and so was the bunny. That escaped was short lived. Officers claim there was a trail of colored eggs that led to his arrest.

Sara.

SIDNER: If that was here, I would think it was one of our guys named Phil in this office doing this very gig.

All right, this morning, nerves are high and there are some bold predictions of who will win the men's NCAA basketball final. But as the sun rises in Los Angeles, the UCLA women's basketball team and their fans are on top of the world after capping off a dream season with their first ever national title.

Let's get right over to Coy Wire, who is here with us. The Bruins, man, they brought it

COY WIRE, CNN SPORTS ANCHOR: Yes, your old stomping grounds. They're having some fun today, Sara. UCLA, their unconventional strategy going all seniors worked. They scored all 130 of the team's points in the semis and the final. It won the school its first national title in the NCAA era. Five players scoring in double figures, including the tournament's most outstanding player, Lauren Betts, a potential number one pick in the draft dominating on offense and leading a suffocating defense. Bruins overwhelmed South Carolina 79 to 51.

Here's coach Cori Close, 15 years at the school, first ever title, emotional with mom by her side after the win.

(BEGIN VIDEO CLIP)

CORI CLOSE, UCLA HEAD COACH: It's beyond my wildest dreams. And -- but it's meaningful because of the people I've gotten to share it with. It's all about the heart. And it would be shallow without an amazing village and incredible people that have poured into me my whole life.

(END VIDEO CLIP)

WIRE: Now, tonight, Sara, the home of the NFL's Indianapolis Colts behind me will be packed with hoops fans. Millions tuning in to the men's final between Michigan and UConn. The coach's leadership styles are like yin and yang, fire and ice. Michigan's Dusty May. He's not a get in your face scream and cuss you out type of coach. He has studied teachers and the science of how the brain responds to criticism and positive reinforcement. He's very zen like. A mantra creating leader. I asked coach all about his philosophy on teaching.

Listen.

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DUSTY MAY, MICHIGAN HEAD COACH: As we've grown as teachers and we've learned from those that do the job, we spend a lot of time thinking about what our daily message to our team needs to be. Once we started teaching with positivity, with the mindset that there's a culture of error in practice and we want guys to play with freedom, to put their own, their own special sauce in what we're doing, but also learning from the mistakes they make. Because if they make them in practice, we point them out and we're grateful that they happened in that setting versus in the Final Four.

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WIRE: Now, UConn's Dan Hurley could not be more different. He coaches his players hard. He loves them hard too, but he believes in putting his players through the ringer in practice so the games seem easy. But one of his superpowers as a leader may be his superstitions. One of them, a lucky game day suit he's had for 15 years. We heard it's having some issues, Sara. So, we asked him all about it.

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WIRE: You're very superstitious. We all know about your red dragon underwear that you wear every game. Now, Coach, I understand there is an issue with your superstitious game day suit.

[09:55:00]

What's happening?

DAN HURLEY, UCONN HEAD COACH: Oh. Well, there's a lighting issue right now with the jacket and --

WIRE: It's falling apart on you?

HURLEY: It's falling apart. It's falling apart. The lining is so ripped up that there's like three holes for me to stick my right arm into. And then like two in my left arm. So, like, you never know. And you could hear the ripping if I picked the wrong hole. And I'm going out onto the court right now with jacket lining. It's a messy scene.

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WIRE: If that suit can hang on one more game, Sara, UConn could become the first team to win three titles in four years since Wooden's UCLA dynasty in the '60s and '70s. Michigan seeking their first title since '89. Game is tonight on TBS.

SIDNER: Full admission, I have a jacket like that, that I just won't let go of. I don't wear it on TV, but --

BERMAN: You know, he should wear a bunny suit like that guy in the video that we showed before. That should be his next superstition. If he wants to scare the other team -- because this is the scariest thing I've ever seen.

BOLDUAN: Why is this the scariest?

BERMAN: This is -- I have already booked a therapy session.

BOLDUAN: Of all of -- there are -- Co will agree -- SIDNER: So have kids across America.

BOLDUAN: Easter bunnies in costume are creepy. This is kind of one of the cuter ones.

BERMAN: No, a police car just birthed an Easter bunny, OK.

Thank you all for joining us. This has been CNN NEWS CENTRAL. "THE SITUATION ROOM" is up next.

SIDNER: We need to go.

BOLDUAN: I did not think of it that way.

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