David Faber and Jim Cramer discuss the massive surge for stocks. Multiple reports emerging saying dexamethasone, a widely available drug, can help critically ill coronavirus patients. The treatment reportedly reduced Covid-19 deaths in hospitalized patients by up to one third. Another piece of the market puzzle, the government reporting a record 17.7% increase in retail sales for May. An IPO over at the Nasdaq, Royalty Pharma, the CEO joining the “Squawk on the Street” gang ahead of its opening trade. Plus, David’s reporting on SoftBank. Sources telling him the company plans to sell up to two-thirds of its stake in T-Mobile early next week valuing the transaction at about $20 billion.
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Squawk on the Street