Squawk on the Street

The “Squawk on the Street” gang discuss the morning’s whipsaw for stocks. China, U.S. tensions ramp up after China released draft legislation over new national security measures on Hong Kong.The law is expected to increase Beijing’s hold over Hong Kong after last year’s burst of anti-government protests. Tensions overshadowed positive comments on a potential coronavirus vaccine from the director of the National Institute of Allergy & Infectious Diseases. Fauci telling NPR that Moderna’s vaccine data looked “promising.” Plus, the “Squawk on the Street” crew discusses Apparent Democratic nominee Joe Biden’s comments to CNBC that Amazon, “should start paying their taxes.” 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, turning positive after falling at the open. Total initial jobless claims topping 38 million. Retailers continue to take center stage on the earnings front Best Buy, TJX, L Brands and more reporting results. The “Squawk on the Street” gang digs through the numbers and what they’re signaling about the state of the economy. President Trump is heading to a Ford plant, in Michigan, that’s been transformed to make PPE & ventilators. But will the President wear a mask? Michigan’s attorney general penning an open letter saying he has a ‘legal’ and moral’ responsibility to wear a mask on the Ford plant tour. 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 volatile week on Wall Street. Retailers reporting results as investors continue to watch how the reopening of states is going. Shares of Lowe’s jumping after reporting strong results, same-store sales increasing for the first quarter. Target also out with earnings, saying a surge in digital sales fueled a big increase in same-store sales. Vaccine experts are questioning Moderna’s Covid-19 data saying it leaves some big questions. Plus, David Faber’s reporting on Forescout technologies accusing Advent of violating its merger agreement after the company put the acquisition on hold. 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 pullback for stocks with the Dow sinking more than 100 points following yesterday’s 900 point surge. Investors closely watching today’s Senate testimony from Fed Chairman Jerome Powell & Treasury Secretary Mnuchin. Plus, retail in the COVID-19 era, Walmart reporting a 74% surge in e-commerce sales, and Home Depot reporting a hit to profits amid rising coronavirus costs. And David’s latest reporting on Softbank’s plans to sell part of its stake in T-Mobile. 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 and David Faber discuss the big Monday morning rally. Stocks surging as Moderna reports positive data on an early-stage coronavirus vaccine trail. Shares of Moderna skyrocketing 30% after it said dose-dependent increases in immune responses were seen across three different dose levels, and that the treatment was generally safe and well-tolerated. Plus, an optimistic Federal Reserve Chairman Jay Powell giving investors hope. On CBS’ “60 Minutes” Chairman Powell said GDP shrinkage could in the 20s or 30s, but he doesn’t see the economy entering another Depression. He also said that the country will get to “an even better place” than it was before the coronavirus hit, and that it “won’t take that long.” David Faber reports on the possible Uber, Grubhub deal. Plus, shares of Disney surging to start the week. The company announcing it will reopen part of the shopping area at its Disney Springs resort in Florida on Wednesday. The company will be implementing a variety of safety measures, including masks and contactless payment options. 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 fall in stocks on the back of a record plunge in U.S. retail sales. Investors also keeping a close eye on rising trade tensions between China and the U.S. The Trump administration moving to block semiconductor shipments to Huawei. The Commerce Department said it would “strategically target Huawei’s acquisition of semiconductors that are the direct product of certain U.S. software and technology.” China biting back, the editor-in-chief of Chinese state-run publication Global Times, tweeting that China would “restrict or investigate” U.S. companies including Qualcomm, Cisco Systems and Apple if the U.S. takes further action against Huawei’s supply chain. The New York Stock exchange announcing it will be reopening its trading floor after Memorial Day, with changes. NYSE President, Stacey Cunningham joining the “Squawk on the Street” gang on her reopening strategy and precautions in the era of Covid-19.Plus, shares of J.C. Penney were halted, people familiar with the situation telling CNBC, J.C. Penney’s advisors are working on a bankruptcy filing that could come as early as Friday morning. 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 and David Faber discuss the big hit to stocks after jobless data underscored the coronavirus’ devastating toll on the economy. New claims brought the Covid-19 crisis total to nearly 36.5 million job losses over the past two months, by far the biggest job losses in U.S. history. A record 20.5 million jobs were lost in April alone. On the vaccine front, Novartis CEO saying it may take until the end of 2021 before getting a vaccine. The CEO writing an op-ed published in Switzerland’s Handelszeitung, “The ultimate way to deal with this pandemic is likely to be a vaccine against Covid-19… That will take more time – my guess is about one and a half to two years.”Plus, the CEO of Abbvie joins the “Squawk on the Street” gang to discuss covid-19 treatments, vaccine development 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.

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.

Carl Quintanilla, Jim Cramer and David Faber discuss the turn in the market, as investors digest the latest private payrolls report from ADP, showing a drop of 20.2 million in April. The pandemic forcing employers of all sizes to cut back and lay people off. That being one theme of the morning as Uber announces it’s cutting about 3,700 workers, about 14% of its workforce, as it looks to reduce costs amid a falloff in rides during the pandemic. Disney reporting results, announcing that it’s suspending its dividend for the first half of the fiscal year. A key metric, the company’s parks segment, was down 10% as its theme parks around the world have been closed due to the coronavirus. Disney says it’s planning to reopen its Shanghai park on May 11th. 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 and David Faber discuss the pop in stocks for the second day in a row. Investors looking toward a more hopeful picture for reopening the economy. Pfizer is beginning human testing for its experimental coronavirus vaccine in the U.S. The company is working alongside German drugmaker BioNTech, saying the first human participants in the U.S. have been dosed with the potential vaccine. Starbucks announcing its plans to reopen more than 85% of its U.S. stores by the end of this week. It initially won’t allow dine-in service, but will provide pickup and delivery in cafes, as well as drive-through. By early June, the company expects to have more than 90% of its stores open with limited hours. Plus, WeWork co-founder Adam Neumann is going after Softbank, suing them over its failed tender offer. 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 slump in stocks to start the week. Investors weighing tensions between the U.S. and China over COVID-19. Airline stocks among the biggest losers in the S&P, with Delta, United and American all dropping more than 7%. The oracle of Omaha, Warren Buffett, saying over the weekend his Berkshire Hathaway sold all of its airline holdings because of the coronavirus outbreak. Salesforce releasing new tools to help organizations in their efforts to reopen safely. Salesforce CEO, Marc Benioff joined the "Squawk on the Street" gang to discuss the new tools they're unveiling and the road ahead to reopening the economy. 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 and David Faber discuss the slump for stocks to start the month of May. Two big tech giant's in focus: Amazon & Apple both reporting results. Amazon CEO Jeff Bezos telling investors they're planning to spend all of their Q2 profits on a response to the coronavirus. In the press release post earnings Bezos said, :"If you're a shareowner in Amazon, you may want to take a seat, because we're not thinking small. Under normal circumstances, in this Q2, we'd expect to make some $4 billion or more in operating profit. But these aren't normal circumstances." Apple reporting flat revenue and didn't offer guidance because of the uncertainty surrounding COVID-19. Plus, National Economic Council Adviser Larry Kudlow joins "Squawk on the Street" to discuss the road ahead for the economy in the wake of the coronavirus and how the White House is planning to move forward with China. 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 and David Faber discuss the tough economic data as U.S. weekly jobless claims hit 3.84 million, topping 30 million over the last 6 weeks. The busiest week of earnings season continues, as giants Facebook, Microsoft, Qualcomm and Tesla reported results.McDonald's among the company's reporting results, earnings missed but revenue beat. The fast-food giant seeing strong sales prior to the hit from COVID-19, but saw a sizeable decline once the pandemic hit. McDonald's CEO joining the "Squawk on the Street" gang to discuss the impact of coronavirus on his company's bottom line, the road ahead and how they're going to protect employees and customers going forward. The CEO's of DOW and ServiceNow also joining Carl, Jim and David to discuss earnings, the quarters to come and how the expect the virus will impact their companies going forward. 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 and David Faber discuss the surge in stocks, after Gilead releases positive data from its potential coronavirus treatment. The results of its own study showed improvement in patients taking remdesivir to treat the virus. The busiest earnings week continues and the CEOs join "Squawk on the Street." Hear what the CEO's of Boeing, Starbucks, AMD, Spotify and GE had to say about the future of their companies, growth, the economy and leading in the age of COVID-19. 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 and David Faber breakdown the busiest week of earnings season. The major averages adding to yesterday's gains, heading for a 5-day win streak. Treasury Secretary Mnuchin says the government will perform a full audit on any company taking out more than $2 million from the small business loan program. The program has faced backlash after several public companies disclosed they had taken out loans. Plus, the CEO of Southwest on the companies earnings and the future of airline travel in the wake of COVID-19. Southwest's Gary Kelly telling the "Squawk on the Street" crew they can't sustain the cash burn indefinitely and the airline is looking at strategies based on different demand scenarios. 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 and David Faber discuss the up start for stocks to kickoff the week. Regeneron's arthritis drug that was seen as a promising treatment for some Covid-19 patients delivered disappointing results in clinical studies. The global total for confirmed coronavirus cases closing in on 3 million.Adidas reports results and a 93% plunge in first-quarter profit and sales of 19% missing forecasts and warning of a deeper hit to Q2 revenue. Boeing drops it’s Embraer deal saving around $4 billion in much-needed cash. A report says that Apple is pushing back the production of its new iPhone models. Plus, at least 13 of the public companies that received hardship loans said they’ll be returning the money. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this CNBC special report, Shark Tank's Daymond John and individual business owners discuss challenges and struggles in the midst of the coronavirus crisis. 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 rough week for stocks and the historic rout for oil. Retail woes in the world of covid-19 as reports J.C. Penney is in advanced talks for bankruptcy financing. Verizon withdrawing its full-year revenue outlook as it lost 68 thousand phone subscribers who pay a monthly bill in the first quarter amid lockdowns that closed 70% of its stores. The CEO of Verizon, Hans Vestberg, joined the "Squawk on the Street" gang to discuss earnings, the road ahead in the wake of covid-19 and the future of 5G. 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 and David Faber discuss the morning's muted moves for stocks. Crude making a comeback clawing back some of those massive losses. U.S. weekly jobless claims hitting 4.4 million bringing the 5-week total to more than 26 million since the virus took hold. Target says same-store sales rose more than 7% so far in the first quarter. Digital sales at the retailer increasing by more than 275% from a year ago. Plus, a big mover of the morning, Las Vegas Sands reporting a first quarter loss as the coronavirus outbreak kept gamblers away from its casinos, but the company expects a relatively quick recover in its Asian markets. 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 breaks down the surge in stocks, as earnings are underway. Carl Quintanilla and Jim Cramer digest results from Snap, Netflix, AT&T, Delta and Kimberly-Clark. Crude trying to stabilize after a record plunge. The WTI contract for June was up 21%, after an earlier decline. Snap surges on a beat and a massive gain in daily active users. Plus, Delta CEO joins "Squawk on the Street" to discuss the company's results, the impact of COVID-19 and the future of the travel industry. 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" gang discuss the massive slump in stocks as a historic selloff in oil continues. The WTI contract for May delivery still trading with a negative price on Tuesday, just one day after falling below zero for the first time in history. Storage is quickly filing up, meaning there will soon be nowhere to store crude. Earning season underway with Coca-Cola reporting results. The company saying demand has been weakened by coronavirus pandemic, with global volumes plunging 25% this month.The Chairman and CEO of Coca-Cola joining "Squawk on the Street," commenting on the changing consumer landscape and the impact of COVID-19 on his company's bottom line. Plus, the CEO of JetBlue as their traffic for the month of April falls 90%. On the consumer he says, "I do think there's such a pent-up demand for travel, for people to visit friends and family again, to go on vacation." 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 and David Faber discuss the fall in oil prices over demand concerns with WTI plunging nearly 40%. Shares of Chevron and Exxon Mobil falling more than 5% to lead the Dow Lower. The S&P energy sector losing more than 6% as Occidental and Halliburton both fell more than 10%. Shake Shack returning the small business loan it received from the government, making it the first major firm to hand back money. The company will immediately return the entire $10 million SBA loan as it received additional capital. Plus, the plan to reopen Las Vegas. Wynn Resorts CEO Matt Maddox calling for a mid-to-late May reopening of the Las Vegas Strip, with extensive safety measure in place. 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 digests the news moving the market. Stocks surging to close out the week as hopes of a treatment for the coronavirus comes to light. Shares of Gilead surging after a report that a Chicago hospital treating coronavirus patients with remdesivir in a trial were recovering rapidly from severe symptoms. President Trump rolling out his three phase plan to reopen the U.S. economy. Plus, Procter & Gamble reporting results with U.S. sales surging 10% as consumers stocked up on goods ahead of the peak of the outbreak. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.