Special Report: Markets in Turmoil
Squawk Pod
CNBC
4.2 • 543 Ratings
🗓️ 7 April 2020
⏱️ 45 minutes
🧾️ Download transcript
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| 0:00.0 | Hi, I'm CNBC producer Katie Kramer, one of the voices behind the CNBC podcast SquawkPod. |
| 0:07.5 | In these times of uncertainty, we want to make sure we're bringing you, our listeners, as much information as possible, as quickly as we can. |
| 0:15.0 | That's why we're sharing with you now a CNBC special report, Markets and Turmoil. |
| 0:19.8 | Listen in. |
| 0:23.6 | Good evening, everyone. I'm Tyler Matheson on day 99 of the coronavirus crisis. Stocks surging today. |
| 0:31.8 | All major indexes up 7%. But this virus has now killed more than 10,000 Americans. |
| 0:41.6 | Wow, what a market day. |
| 0:43.9 | Stock surge. |
| 0:45.5 | If we are plateauing, we are plateauing at a very high level. |
| 0:49.7 | Trend trackers show signs a peak is near. |
| 0:52.6 | We're going to be looking at a decline in GDP of at least 30%. |
| 0:59.0 | But it's clear the damage has been done, and big risks remain as the crisis continues. |
| 1:05.8 | This is a CNBC special report, markets in turmoil. |
| 1:12.9 | Here's Tyler Matheson. |
| 1:21.3 | And good evening once again. After a major update for stocks, let's start right now with a look at where the futures stand. Remember, these futures are very volatile at this hour, and you can see |
| 1:26.8 | that the implied open tomorrow |
| 1:28.5 | for all three of the major indexes is lower at this hour. But that can change, obviously, |
| 1:35.4 | in the blink of an eye. Let's talk about the Dow, the S&P, and NASDAQ. They were all way up today, |
| 1:40.8 | all three indexes rising 7%. But each index, don't forget this, how could you, |
| 1:47.2 | is still down big from those highs of just two and a half from their highs, just two and a half, |
| 1:52.3 | about a couple months ago. The NASDAQ now 19.5% below its high. The S&P 500, 21.5% off of its high back in February, and the Dow, 23% off the high |
| 2:07.0 | from mid-February. Well, despite the optimism in the markets today, J.P. Morgan's CEO, Jamie |
... |
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