Comeback Rally Hits Pause, Market Speculation Spikes, Macy’s Surges on Preliminary Results

The “Squawk on the Street” team discusses the pause in the market and the spike in market speculation. Investors turning back to the recession and coronavirus pandemic. The World Health Organization warning that the pandemic is still worsening around the world, as the U.S. continues to reopen. Comeback trades on optimism about the reopening of the economy were lower. Names like United and Delta each dropping more than 10%. David Faber reports on speculative trades surrounding Nikola, after shares jumped more than 20% Tuesday before reversing course to trade 10% lower. On Monday, the stock more than doubled. Plus, a bright spot in retail, as Macy’s surges on positive preliminary results. The company says stores that are reopening are topping expectations and they’re regaining customers much quicker than expected.