Squawk on the Street

Carl Quintanilla, Jim Cramer and David Faber discuss the swift move lower for stocks. Major averages tumbling on the heels of comments from the Chairman of the Federal Reserve yesterday and reopening fears. Fed Chairman Powell saying, “We’re not thinking about raising rates. We’re not even thinking about thinking about raising rates. What we’re thinking about is providing support for the economy. We think this is going to take some time.” The Fed sees rates staying near zero through 2022 and GDP tumbling 6.5% in 2020. Investors also becoming concerned about a second wave of coronavirus cases, continuing to rise in certain states, as the U.S. pushes deeper into reopening the economy. Treasury Secretary Steven Mnuchin joins the “Squawk on the Street” gang to discuss small business lending, the state of the economy, and shutting down again in the face of a second wave. Hear why he says, “we can not shutdown the economy again.” Plus, the CEO of GrubHub on the big deal news of the day, as his company is acquired by Just Eat Takeaway for $7.3 billion. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to CNBC's special report about the Coronavirus outbreak, the treatment and diagnosis of Covid-19 and the impact it’s having on the economy, business and your money. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer discuss the surge in tech stocks, with the Nasdaq hitting a fresh record high. Plus, it’s a mixed picture across America as states begin to reopen. 21 states reporting weekly increases in new cases of COVID-19, as Arizona reactivates its emergency plan for medical facilities. One of the states hit hardest by the pandemic, New Jersey, lifting its stay-at-home order. Plus, David Faber phones in for in-depth reporting on GrubHub & Uber. Sources telling him that Uber is close to exiting those deal talks with GrubHub. Sticking with deal news Faber discusses Simon Property Group terminating its agreement with Taubman. Plus, Starbucks says it lost $3 billion in revenue in the latest quarter due to the coronavirus pandemic. The coffee chain says it expects to swing to a loss in the fiscal third quarter and that same-store sales in the U.S. and China to decline 10% to 20% for the full fiscal year. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to CNBC's special report about the Coronavirus outbreak, the treatment and diagnosis of Covid-19 and the impact it’s having on the economy, business and your money. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team discusses the pause in the market and the spike in market speculation.Investors turning back to the recession and coronavirus pandemic. The World Health Organization warning that the pandemic is still worsening around the world, as the U.S. continues to reopen. Comeback trades on optimism about the reopening of the economy were lower. Names like United and Delta each dropping more than 10%. David Faber reports on speculative trades surrounding Nikola, after shares jumped more than 20% Tuesday before reversing course to trade 10% lower. On Monday, the stock more than doubled. Plus, a bright spot in retail, as Macy’s surges on positive preliminary results. The company says stores that are reopening are topping expectations and they’re regaining customers much quicker than expected. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to CNBC's special report about the novel Coronavirus outbreak, the treatment and diagnosis of Covid-19 and the impact it’s having on the economy, business and your money. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the continuing rally for the major averages to start the week. Stocks tied to the reopening of the economy leading gains once again with airlines, retailers and cruise lines moving higher. After two months in lockdown, New York City, begins its phase one reopening. Billionaire investor Stanley Druckenmiller joining CNBC saying, “what is clearly happening is the excitement of reopening is allowing a lot of these companies that have been casualties of Covid to come back and come back in force… with a combination of the Fed money and, in particular, a vaccine where the news has been very, very good.” Plus, David Faber’s new reporting on that possible AstraZeneca, Gilead merger. Sources telling him the two companies are not in deal talks. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to CNBC's special report as traders focus on reopening the economy amid the Coronavirus pandemic and civil unrest around the U.S. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the shocking record surge in U.S. jobs. Employers adding 2.5 million jobs for the month of May, while the unemployment rate slide to 13.3%. Economists had been expecting a drop of more than 8 million jobs and the unemployment rate to reach nearly 20%. Here why Cramer says ‘we’re back.’ Plus, an exclusive interview with the Vice President of the United States, Mike Pence.Here everything he had to say on the jobs report, economic recovery, coronavirus and the current state of civil unrest in the country. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to CNBC's special report as traders focus on reopening the economy amid the Coronavirus pandemic and civil unrest around the U.S. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.