At-Home Covid Tests; Awash in Oil; U.S. National Economic Council Director Larry Kudlow

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 22 April 2020

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Labcorp has developed the first FDA-approved at-home coronavirus test, available to first responders and frontline workers. Labcorp CEO Adam Schechter explains the process and what’s next in the battle against Covid. As people around the globe stay home, demand for oil has dropped to unprecedented levels, triggering one of the biggest oil routs in history and questions about where to store oil that no one needs. The White House’s voice on economic policy, NEC Director Larry Kudlow, explains the administration’s efforts to keep businesses afloat throughout the pandemic.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer. Today on our
0:04.9	podcast, The White House's voice on the economy, presidential advisor Larry
0:09.0	Cudlow on the coronavirus and the bottom line. We're just doing our best to keep things afloat and bridge to the point
0:16.0	when the economy can begin to recover.
0:18.0	The first FDA approved at home coronavirus test,
0:22.0	the CEO of the company that developed it on how it works and who gets it.
0:25.6	We're currently providing that test to frontline health care workers and first responders that have symptoms.
0:30.8	They can order the home kit from our website and then they can mail it to our
0:35.8	labs and within one to two days they will tell them if they currently have the
0:39.2	virus or not.
0:40.8	Those stories plus COVID-19's global infection in the oil markets and Netflix's cure for shut-in consumers.
0:47.0	It's Wednesday, April 22nd, 2020 Spock Pot begins right now.
0:52.0	Good morning, everybody. I'm Becky Quick along with Joe Kernan and Andrew Ross
0:55.8	Sorkin.
0:58.8	First up today on the podcast, Oil Prices, Not Exactly Partying like it's 1999.
1:04.0	The international benchmark rent crude hitting a 20 year low.
1:07.8	This follows US prices plunging to an historic low this week.
1:11.4	The price for a barrel of oil delivered in May hit
1:13.8	negative numbers worth less than zero before the monthly contract closed
1:17.8	yesterday at around $10 a barrel. Why so low? Fear of a supply glut and lack of storage for all the oil not being used during the
1:26.0	coronavirus pandemic amid orders from governments around the world limiting personal
1:30.5	travel. Add to that an over-production of crude thanks to a price war between Saudi Arabia and Russia,
	...

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