Stocks Under Pressure, Covid-19 Cases Spiking, Disney Delays, Macy’s Jobs Cuts, Spotify Exec on Growth

Carl Quintanilla, Jim Cramer and David Faber discuss stocks under pressure as investors grapple with a rising number of coronavirus cases. More than 45 thousand new cases were confirmed on Wednesday, a record that surpassed the previous peak back in April. States such as Texas, Florida, California and Arizona have all seen major spikes. Shares of Disney taking a hit, after announcing its postponing its planned July 17th reopening of its Disneyland resort in California. The company says its waiting for state officials to issue guidelines on theme parks reopenings. Macy’s shares falling after announcing its cutting 3,900 corporate jobs. Plus, the “Squawk on the Street” team is joined by the Chief Content Officer at Spotify. Hear what she had to say about monetizing podcasts, their growth strategy and future deals.