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Squawk Pod

Mark Cuban: We are at an inflection point

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2543 Ratings

🗓️ 13 April 2020

⏱️ 34 minutes

🧾️ Download transcript

Summary

“Banks are playing themselves.” Entrepreneur, investor, and Mavericks owner Mark Cuban discusses the issues rolling out relief for small businesses. Richard Preston, writer for The New Yorker and author of “The Hot Zone: The Terrifying True Story of the Origins of the Ebola Virus” contemplates the fragility of the human species and the race for a vaccine. Allianz Chief Economic Advisor Mohamed El-Erian suspects that the majority of companies will suspend forward-looking guidance this earnings season.

Transcript

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0:00.0

This is Squackpot. I'm C. NBC producer Katie Kramer today on our podcast.

0:05.4

The story of the U.S. stock markets coming off a best week ever right in the middle of the

0:10.3

coronavirus pandemic. We'll hear from Mohammed Al-Arion.

0:13.3

Narratives matter. So the next narrative is a realization that the restart is going to be really tricky

0:20.0

and that the post-crisis landscape is going to be different.

0:23.7

Author Richard Preston on what previous outbreaks have taught us about finding a cure.

0:28.8

These drugs, if they work, they can reverse the disease with remarkable speed.

0:34.0

And billionaire investor Mark Cuban on getting back in the game, both basketball and

0:38.8

Main Street businesses.

0:40.0

We're at the point now where if things continue to cascade down, then we start looking at really bad news.

0:47.0

It's Monday, April 13, 2020, Squack Pot begins right now.

0:52.0

Good morning morning everybody.

0:54.0

I'm Becky Quick along with Joe Kernan and Andrew Ross Sorkin.

0:57.0

First up on today's podcast,

1:00.0

How the U.S. Economy is weathering a pandemic.

1:03.0

Last week, the S&P 500 had its best week since 1974.

1:07.7

And on Thursday, the last trading day of that week,

1:10.0

the Dow Jones Industrial Average closed

1:11.8

less than 20% off of its February highs.

1:14.8

Of course, during that same week, we saw the total number of Americans newly seeking

1:18.8

unemployment benefits reach higher than 16 million. That means the U has lost about 10% of its workforce in just three weeks.

1:27.0

This week as we closely watch the number of new coronavirus cases and related fatalities

...

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