Hitting Pause: Companies, Consumers, & the Markets

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 25 June 2020

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

New spikes in coronavirus cases around the U.S. have signaled a yellow light for companies, consumers, and the markets betting on a nationwide reopening. Dr. Scott Gottlieb, former FDA Commissioner, warns of a time gap between implementation of policy and affecting Covid-19’s spread. Steps taken now amid infection spikes, he says, will help states in a few weeks. Disney has indefinitely postponed reopening California theme parks amid the case spikes, although Florida properties are still on track for a July reopening despite employee petitions to delay. Media watcher and Lightshed Partners co-founder Rich Greenfield says Disney’s plans for Florida point to a media giant under financial pressure. Plus, markets also took a signal from the cautious road to reopening; Allianz Chief Economic Advisor Mohamed El-Erian is looking for the next anchor for the stock market.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer. Today on our
0:05.1	podcast hitting pause. Consumers companies and the markets signal a yellow light
0:10.5	for reopening amid a pandemic. Some US states seeing an
0:14.4	uptick in coronavirus cases. Dr Scott Gottlie. We know that there is a
0:18.5	delay between the implementation of policy and actually affecting the scope of the epidemic.
0:23.2	So whatever these states do right now
0:25.4	is really going to help them in about two weeks.
0:28.1	Disney delaying reopening its California theme parks indefinitely,
0:32.1	but Florida's parks are still on track despite an employee petition to postpone
0:37.1	Disney watcher and analyst Rich Greenfield. You would think that Disney would be taking a far more cautious approach Sort of just shows you that Disney would be taking a far more cautious approach.
0:43.0	Sort of just shows you that Disney's under a lot of pressure financially.
0:47.0	And the markets can't ignore worried sentiment after months of federal support and some less bad news.
0:53.0	Alyon's chief economic advisor, Mohammed Al-Arian.
0:55.6	What is the next anchor for markets?
0:58.3	And it's not clear to me where that's going to come from.
1:01.2	It's Thursday, June 25, 2020. Days are getting shorter.
1:05.1	Squawk Pot begins right now. Well, even though the days are getting shorter,
1:09.9	good morning everybody. Welcome to Squawkbox here on on C. You are such a nudge for reminding me every day about that.
1:16.7	Summer's over. Stop it.
1:18.1	Stop it.
1:19.1	Summer's not over. It's just beginning.
1:21.0	The days are still long right now. We're going to take that.
	...

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