Market Momentum & the Largest Profits Ever 8/15/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 15 August 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets are looking less and less like a recession, according to CNBC’s senior economics reporter Steve Liesman. He, Mike Santoli, and Becky Quick explain the rebound in stocks and in jobs data that has assuaged many investor concerns. Former FDA Commissioner Dr. Scott Gottlieb offers a rundown of the latest health news, including the recent discovery of polio in New York City sewage, the CDC’s updated covid guidelines, and national vaccination rates for both viruses. CNBC’s Eamon Javers reports on the alarming backlash against federal law enforcement in the aftermath of the FBI’s Mar-a-Lago search. Plus, China’s economy has hit a speedbump, and oil giant Saudi Aramco has reported record quarterly profits, larger than Apple’s or Exxon Mobil’s. In this episode: Dr. Scott Gottlieb, @ScottGottliebMD Eamon Javers, @EamonJavers Becky Quick @BeckyQuick Steve Liesman, @SteveLiesman Mike Santoli, @michaelsantoli Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	I'm C.N.C. producer Cameron Costa and this is Squack-Pod.
0:09.0	Never a dull health moment these days.
0:12.0	Just as we're managing COVID we got another
0:15.2	diagnosis to look out for Dr Scott Gottlie. The real risk as we head into
0:20.0	the fall in the winter months is that we have a normalized COVID season, whatever that looks like, but also a bad flu season.
0:27.0	And some of us are back to work after vacation.
0:30.0	Let's just say, theoretically, somebody wasn't paying attention the last couple of weeks.
0:35.0	Becky Quick is back and she's joined by CNBC's Mike Santoli, who's got the scoop on the market's recent rally, recapturing half the losses from
0:45.1	2022 so far.
0:47.1	Over the last two weeks you've at least gotten new information that made you slightly
0:51.9	less worried about the stag and
0:53.4	inflation. And financial good news round up. Steve Leisman is on deck
0:58.0	economist journalist extraordinary. By now you would have lost something like 700,000 jobs.
1:04.7	Instead, we've added like 3 million.
1:06.3	So it just doesn't work as a recession.
1:09.3	Some global headlines, too.
1:11.4	China's economy hits a speed bump, but oil giant Saudi Ramco is clocking
1:16.6	unheard of quarterly profits, way more than Apple, Exxon, or pretty much anyone else.
1:23.0	48.4 billion dollars.
1:26.0	And there's still much more like ads coming to your iPhone.
1:30.0	It's Monday, August 15th, 2022, and Squack Pot begins right now.
	...

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