Labor market data shows collapse continues, US hotspots extend east coast


This is CNBC’s live blog covering all the latest news on the coronavirus epidemic. All times below are Eastern Time. This blog will be updated throughout the day as news becomes available.

  • Global cases: more than 2.6 million
  • Deaths worldwide: at least 183,820 dead
  • Cases in the United States: more than 842,600
  • Deaths in the United States: at least 46,785

The above data was compiled by Johns Hopkins University.

8:35 a.m .: Weekly jobless claims in the U.S. reach 4.4 million, 5-week total wipes out all job gains since the Great Recession

8:01 am: Indonesia bans domestic flight and sea travel until early June

Indonesia will temporarily ban domestic air and sea travel starting on Friday, with a few exceptions, to prevent further spread of the coronavirus, officials from the Department of Transport said.

The ban on air travel will be in effect until June 1, said Novie Riyanto Rahardjo, director general of aviation at the Department of Transport. The sea travel ban will be in effect until June 8, said director general of shipping, Agus Purnomo.

Freight transport is exempt from the ban, officials said.

The government has banned Indonesia’s traditional annual exodus for Muslim holidays. —Reuters

7:54 am: Target sees a boom in online sales the size of “Cyber ​​Monday”

Target has seen a surge in online sales, with shoppers trying to limit time spent in stores or avoid travel altogether during the coronavirus pandemic, said CEO Brian Cornell.

Since the start of its first fiscal quarter on February 2, Target’s same-store sales have increased by more than 7%. The gain, which compares to a 1.5% increase in the fourth fiscal quarter, is the result of a doubling of online sales, partially offset by declines in its nearly 1,900 brick and mortar stores.

In an interview with Squawk Box on Thursday morning, Cornell said that Target is trying to determine if the new customer buying models are here to stay.

“We are spending a lot of time trying to figure out how the pandemic is going to change the future of how American consumers buy, how they live, how they work, the things they enjoy,” he said. “But it was very difficult to predict every week. ” —Melissa Repko

7:49 a.m .: 4.3 million additional workers should have applied for unemployment

7:46 a.m .: the last hot spots on the east coast

6:59 a.m .: Tyson Foods closes two large pork plants and tightens US meat supply

Tyson Foods is closing two pork processing plants, including the largest in the United States, after workers tested positive for Covid-19, tightening the supply of meat after other major slaughterhouse closings.

The closures limit the amount of meat the United States can produce during the epidemic and add stress to farmers who lose markets for their hogs.

Blockages aimed at stopping the spread of the virus have also prevented farmers around the world from delivering food to consumers. Millions of workers cannot get to the fields for harvesting and planting, and there are too few truckers to move goods.

Tyson Foods, the largest meat supplier in the United States, has said it will suspend operations at its largest pork plant in Waterloo, Iowa indefinitely, after operating at reduced capacity. –Reuters

6:52 a.m .: South Korea to distribute cash

A couple wearing face masks amid concerns over the new COVID-19 coronavirus are walking through a market in Seoul on April 22, 2020.

Ed Jones | AFP | Getty Images

The ruling South Korean party and the government agreed on Thursday to distribute money to all households, not just families below the 30th highest income percentile, as previously announced, the ministry said. Finances.

The ministry said separately that the government will issue additional bonds to finance the cash payment. –Reuters

5:41 am: Australia will push for investigation at World Health Assembly

Australia will push for international investigation into coronavirus pandemic at next month’s annual meeting of the World Health Assembly, the decision-making body of the World Health Organization, said Prime Minister, according to Reuters.

Australia wants a review of the WHO response to the pandemic and would like to see the organization strengthened. –Holly Ellyatt

5:21 a.m .: 22,157 dead in Spain

The health workers of the Hospital Clinic applaud at 8 p.m. during the coronavirus pandemic on April 22, 2020 in Barcelona, ​​Spain.

Xavi Torrent

Spain has reported that 440 people have died in the past 24 hours, bringing the total death toll to 22,157, its health ministry said.

The death toll has risen slightly since Wednesday, when 435 deaths were reported. The total number of cases reached 213,024, which is 4,635 more than the previous day. –Holly Ellyatt

4:42 am: Merkel says “things will stay difficult for a very long time” as the pandemic continues

BERLIN, GERMANY – April 23: German Chancellor Angela Merkel (CDU) sits in the Bundestag on April 23, 2020 in Berlin, Germany. Germany is still at the start of the coronavirus pandemic and will have to live with it for a long time, said the Chancellor.

Maja hitij

German Chancellor Angela Merkel has said that the end of the pandemic is not yet in sight and that we will have to live with the virus “for a long time”.

Speaking to the German parliament, the Bundestag, Merkel said: “We are not living in the final phase of the pandemic, but always at the beginning.”

“We have saved time,” said Merkel, according to a Reuters translation, adding that it had been used to strengthen the German healthcare system. –Holly Ellyatt

4:30 a.m .: Eurozone business activity collapses to “shocking” lows in the event of a pandemic

Commercial activity in the euro area hit a new record in April, indicating that the coronavirus pandemic is causing serious economic damage in the region.

The IHS Markit Purchasing Managers Index, which measures both the service industry and manufacturing, fell at 13.5 in April, according to preliminary data. In March, the same index had already registered its largest monthly decline at 29.7. A contraction in the number of PMIs – a figure below 50 – indicates a likely decline in overall economic growth.

“The month of April saw unprecedented damage to the euro area economy against a backdrop of virus foreclosures associated with declining global demand and shortages of personnel and inputs,” said said Chris Williamson, chief economist at IHS Markit, in a statement. –Silvia Amaro

Read CNBC coverage by CNBC Asia-Pacific and Europe teams overnight here: China will give more money to WHO; The daily death toll in Spain is stable


Please enter your comment!
Please enter your name here