Squawk on the Street

Listen to CNBC's special report on how the novel Coronavirus outbreak is spreading in the United States, and how it's continuing to hit stock markets around the world. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Powell speaks. The “Squawk on the Street” team digests comments from the Federal Reserve Chairman, as he speaks with the Peterson Institute for International Economics. Stocks falling, the Dow dropping 250 points as Powell says he sees ‘significant downside risks.’ On the highly debated concept of negative rates Powell says, “The committee’s view on negative rates really has not changed. This is not something that we’re looking at.” Plus, Hedge Fund Manager Stanley Druckenmiller telling the Economic Club of New York, “the risk-reward for equity is maybe as bad as I’ve seen it in my career.” And the Tesla reopening saga comes to an end… for now. Alameda County agreeing to let Tesla reopen if certain conditions are met. This comes as Elon Musk speaks with Texas Governor, Gregg Abbott, about moving his factory from California to Texas. 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 on how the novel Coronavirus outbreak is spreading in the United States, and how it's continuing to hit stock markets around the world. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks rising slightly as investors evaluate the latest attempts to reopen the economy. The Nasdaq is heading for its seventh straight day of gains. Dr. Anthony Fauci and other health officials will testify before the Senate Health Committee discussing reopening the economy. Simon Property Group, the biggest U.S. mall owner is planning to have 50% of its centers reopened this week, as states begin to loosen their lockdown restrictions. Plus, it’s Elon Musk vs. California. Tesla’s CEO defying orders and reopening his plant in Alameda County in a standoff with county officials. Musk tweeting: “Tesla is restarting production today against Alameda Country rules. I will be on the line with everyone else. If anyone is arrested, I ask that it only be me.” Plus, the CEO of International Flavors & Fragrances joins the “Squawk on the Street” team on earnings and the road ahead during the COVID-19 pandemic. 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 stocks falling to start the week amid jitters about reopening the economy too soon. Oil moving to the upside after Saudi Arabia says it will cut its oil production by an additional 1 million barrels per day. Retail woes, Under Armour reporting results with sales plunging 23%. Billionaire hedge fund investor Paul Tudor Jones commenting on the economy saying it would be in a “Second Depression” if the coronavirus pandemic doesn’t get contained in a year. Plus, Treasury Secretary Steven Mnuchin telling the “Squawk on the Street” gang that the administration is unfazed with the federal government’s historic $3 trillion in spending to combat the impact of the coronavirus thanks to the nation’s low interest rates. 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 on how the novel Coronavirus outbreak is spreading in the United States, and how it's continuing to hit stock markets around the world. 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 record job losses for the month of April.Nonfarm payrolls fell by 20.5 million and the unemployment rate rose to 14.7%, both post-World War II records. Investors were unphased by the numbers as stocks continued their run, with all three major averages in the green. The world continues its slow push to reopening economies. In Shanghai, tickets for the reopening of Disneyland sold out for its opening day on May 11th within minutes. It’s the first major theme park to reopen amid the COVID-19 outbreak. The government has mandated that Disney operate at 30% capacity, or about 24 thousand visitors. 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 on how the novel Coronavirus outbreak is spreading in the United States, and how it's continuing to hit stock markets around the world. 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 & David Faber discuss the swing in stocks. The Nasdaq turning positive for 2020, making it the first of the three major averages to claw back its steep losses for the year. Energy stocks among the biggest gainers as oil prices jumped nearly 10%, bringing their gains for the week to more than 30%. Shares of Moderna skyrocketing after announcing the FDA cleared its coronavirus vaccine for phase 2 trail. Carl, Jim & David break down the big earnings movers of the morning including: ViacomCBS, Teva Pharmaceuticals, Costco, PayPal, Peloton, and many more. Plus, the CEO of Raytheon Technologies, Greg Hayes, joins the “Squawk on the Street” gang to discuss his company’s results, the impact of COVID-19 on Raytheon’s bottom line and the road ahead. 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 on how the novel Coronavirus outbreak is spreading in the United States, and how it's continuing to hit stock markets around the world. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.