Outside of NY, the number of new cases in the United States is increasing

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Governments and health officials are trying to strike a balance between reopening economies and preventing a second wave of infections. South Korea and Hong Kong have successfully relaxed pandemic restrictions without seeing a resurgence of cases through data sharing, targeted testing and contact tracing. But other parts of Asia that reopened without doing these three things and saw another spike in the cases. Drug maker Moderna has received “crucial” approval from the Food and Drug Administration for phase 2 trials of its candidate vaccine. 3.17 million Americans filed for unemployment last week.

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 3.7 million
  • Deaths worldwide: at least 264,111
  • Cases in the United States: more than 1.2 million
  • Deaths in the United States: at least 73,431 dead

The above data was compiled by Johns Hopkins University.

2:42 p.m .: Outside of New York, the number of new daily cases in the United States increases

As the coronavirus epidemic slows in parts of the country, it is rapidly gaining ground elsewhere.

New York State, the hardest hit part of the country, has reduced from more than 10,000 new cases a day to less than 5,000 in recent days, according to data compiled by Johns Hopkins University. However, even if the cases fall into the epicenter of the nation, the national numbers remain stubbornly high, giving the illusion that the nation’s epidemic has peaked and plateaued.

Excluding data from New York, the total number of cases in the country is increasing.

“This is a transfer of outbreaks from one region to another,” said Dr. Michael Osterholm, infectious disease epidemiologist and director of the Center for Infectious Disease Research and Policy at the University of Minnesota. “We are witnessing many epidemics across the country. As some slow down, others increase, so if you just look at the national numbers, you won’t see the full picture. “-Will feuer

2:33 p.m .: New York Governor Andrew Cuomo will not back down on a measured approach to reopening the economy

New York Governor Andrew Cuomo said it was “absurd” to discuss the death toll that was worth reopening the state and added that he was not willing to trade people’s lives to reopen the state economy.

“This is not a situation where you can go to the American people and say,” How many lives are you willing to lose to reopen the economy? We don’t want to lose lives. You start to hear these arguments, these are absurd arguments for me, “Cuomo said during his daily press conference.

The governor’s remarks come after President Donald Trump said on Tuesday that reopening part of the country’s economy would inevitably cost the lives of some Americans, but the benefits would outweigh the costs. –Jasmine Kim

2:21 p.m .: Most Facebook employees can work from home for the rest of the year

Facebook plans to announce that it will allow most of its employees to work from home until the end of 2020, a spokesperson for the company told CNBC.

The company plans to reopen most of its offices on July 6 so that employees who have to come for work do so. People who choose to return to their offices will also be allowed to do so.

Facebook is still in the process of determining which employees will be invited to return on July 6. –Sal Rodriguez

2:07 p.m .: California grabs a $ 54 billion budget deficit

Beach parking lots and most state beaches are closed to the public while California governor Gavin Newsom has ordered all Californians to stay at home and maintain safe distances. relative to each other worldwide, March 28, 2020 in Huntington Beach, California.

Bob Riha Jr | Getty Images

California Governor Gavin Newsom has announced that the state will have a $ 54 billion budget deficit due to the negative economic impact of the coronavirus, the Associated Press reported.

The state posted a $ 21 billion surplus last year. In early 2020, the state had an unemployment rate of 3.9%. Today, according to Newsom, the state will have an unemployment rate of 18%. –Hannah Miller

1:49 pm: Raytheon CEO explains how people will react to the pandemic recovery: “They will start flying again, they will recover”

In a Thursday interview on “Squawk on the street”, Raytheon CEO Gregory Hayes told Jim Cramer of CNBC that Americans will soon become impatient to travel again as the nation slowly reopens amid the coronavirus pandemic .

“The point is, people can’t get mad at Netflix for that long,” said Hayes. “Zoom is fun, but you can’t see the Eiffel Tower in a Zoom meeting. You can’t take your kids to Disneyland on Zoom, so people will come back. They will start flying again, they will recover, ”he added.

The head of the aerospace defense firm said that in his discussions with airlines and other industry partners, assuming that there was no resurgence in the Covid-19 cases, the process recovery from the commercial aerospace sector would begin this summer. –Amanda Macias

1:13 p.m .: The National Institutes of Health do not expect a rapid mutation of the virus

The National Institutes of Health does not expect the coronavirus to mutate as quickly as the seasonal flu, according to Dr. Francis Collins, director of the institution.

And this despite a recent study by the Los Alamos National Lab which revealed that the virus had mutated at least 14 times since its first appearance four months ago. The dominant strain appears even more contagious, the study found.

“We don’t think there will be this very rapid seasonal change we are facing against flu, which means that last year’s vaccine may not be the one you want this year,” Collins said Thursday at a hearing before the Senate Health Committee. , Education, Work and Pensions. —Berkeley Lovelace, Spencer Kimball

12:43 p.m .: Trump valet parking is positive

A valet who helped President Trump with his food, clothing and other personal needs tested positive for the coronavirus. The White House said Trump and Vice President Pence have since tested negative.

The valet, a member of the military, was not wearing a mask around the president, according to a White House official who spoke with NBC News.

The White House declined to say whether Trump would self-quarantine or comment on whether the First Lady, their son Barron and Pence Karen’s wife have since been tested. —Spencer Kimball, Dan Mangan

12:28 p.m .: Freight carriers reap the benefits of the Covid-19 trip collapse

The Covid-19 epidemic has virtually destroyed demand for air travel, but things are improving for freight companies.

They are reaping the benefits of high demand for quick access to medical supplies, perishables and a host of other goods around the world, while capacity is shrinking.

Passenger airlines have parked about two-thirds of the world’s fleet while canceling thousands of flights, removing that capacity from the belly of airplanes in the freight market.

Freight carriers Atlas Air and ATSG’s shares have increased by 50% and 17% respectively so far this quarter, while the largest US airlines have each lost more than 20%. —Leslie Josephs

12:10 p.m .: How the United States can learn from South Korea and Hong Kong’s successful struggle to contain the epidemic

This photo illustration shows a man holding his phone showing emergency alert messages announcing places where COVID-19 patients confirmed, among other things, in Seoul on March 10, 2020.

Jung Yeon-Je | AFP | Getty Images

As U.S. states grapple with the complexities of balancing reopening businesses and fighting the coronavirus pandemic, the mixed results of Asian countries in tackling the virus offer insights into proven methods to reduce the spread and return to a semblance of normalcy.

From travel restrictions to data sharing and targeted testing and tracing, each country has pursued its own strategy. While South Korea and Hong Kong have been hailed for their success, Singapore, Japan and China continue to face an upsurge in outbreaks.

Public health experts and epidemiologists in the region who spoke with CNBC expressed concern that US policy makers are not taking the opportunity to learn from Asia. Each of them predicted a long and persistent struggle with Covid-19 in the United States. —Will Feuer

11:58 a.m .: NIH has set a lunar goal of delivering millions of high-tech tests by the end of summer.

The National Institutes of Health has set an ambitious goal to provide millions of “accurate and easy to use” coronavirus tests by the end of the summer.

NIH director Francis Collins has warned that this is “an ambitious goal that goes beyond what most experts believe is possible.” Yet Collins told a Senate committee hearing that Americans need tests that can deliver accurate results within hours and can also integrate with mobile devices to transmit data.

“Such tests look like science fiction but are scientifically possible,” he said.

The NIH called on scientists to develop rapid test technology that can evolve rapidly across the country. Collins said the promising technologies will advance to Phase I, during which the NIH will provide funding to the inventor and assist clinical technical experts. —Spencer Kimball, Berkeley Lovelace

11:25 a.m .: New York City will offer free antibody tests to thousands of residents, says mayor

A healthcare worker prepares to administer a coronavirus antibody test (COVID-19) at Belmont Medical Care in Franklin Square, New York, April 30, 2020.

J. Conrad Williams Jr. | Newsday via Getty Images

New York mayor Bill de Blasio said the city would offer 140,000 free antibody tests to residents, in addition to 140,000 antibody tests to healthcare workers, to determine the prevalence of Covid-19 In the region.

He said priority will be given to residents of communities near five test sites initially, although the city plans to add more sites soon. “This is to benefit you as an individual but also to get us information about what has happened with this disease so that we can fight it,” said de Blasio.

He said the tests were in partnership with BioReference. Residents can make an appointment via a dedicated hotline from Friday. –Noah Higgins-Dunn

11:15 am: Experts to answer your questions about finding contacts on Facebook Live

How will contact tracing work during the coronavirus pandemic? What are the implications for confidentiality?

At 12 p.m. ET on Facebook Live, CNBC will meet with two experts in the field: Ed Bugnion, former founder and chief technology officer of VMWare and professor at EPFL in Switzerland, and Aneesh Chopra, former technical director of Obama administration and president of health. – CareJourney Care Analysis Firm.

Do you have a question about contact tracking? Leave it in the comments of the Facebook post, and we will ask for as many as possible. Chrissy Farr, journalist specializing in health technologies at CNBC, hosts. –Laura Edwins

10.59am: Former NASA scientist wants to fight virus with UV light

After President Donald Trump was mercilessly mocked for suggesting that ultraviolet light could be used to kill Covid-19, a former NASA scientist now says he has found a way to do it.

Fred Maxik, founder and scientific director of Healthe, claims to have created the first UV light technology that can be used to fight coronaviruses. UV-far is a type of UV light, and exposure to ultraviolet light at specific frequencies is known to cause harmful side effects like skin cancer and blindness.

But a Columbia University study has shown that the narrow band of Far-UVC wavelengths is short enough to prevent it from damaging human cells, but still penetrates and kills small viruses and bacteria on them. surfaces and in the air.

Maxik believes that this technology could be disseminated through the doors of hospitals and other places that treat the sick, decontaminating their hair, skin and clothing. –Terri Cullen

10:24 a.m .: Signs that non-emergency patients avoiding hospitals may have reached a trough

Hospitals recorded a more than 60% drop in patient volumes in early April due to the cancellation of elective procedures, but Transunion analysts say there are signs that last month may have bottomed out.

Payment data shows that hospital visits increased 4% in the first two weeks of April, the modest bump marks the first increase in patient volumes since Covid-19 was declared pandemic.

“We are starting to see this upward trend due to the opening of economies by states, the lifting of shelter orders and the postponement of elective procedures,” said Jonathan Wiik, Director of Unit TransUnion Health Care Strategy. He said it could take three months or more for hospitals to resolve the backlog of deferred procedures and regain normal volumes of non-Covid patients.

Four in 10 patients interviewed by Transunion said they planned to reschedule procedures as soon as providers resumed operations, while almost one in four said they would wait until they believe the risk of contracting the coronavirus had passed. –Bertha Coombs

10:08 am: Colleges Consider Freezing Tuition Fees During Pandemic Period

Pedestrians cross Harvard Yard on the closed campus of Harvard University in Cambridge, Massachusetts, the United States, Monday April 20, 2020.

Adam Glanzam | Bloomberg | Getty Images

As economic pressure on families worsens, some colleges have pledged to keep the tuition fees of all students unchanged for the coming year.

The College of William & Mary, Delaware Valley University in Pennsylvania, Kansas City University and Central Michigan University, among other schools in the country, recently announced measures to freeze tuition and tuition fees.

However, a tuition freeze may not be enough to attract students when financial concerns become paramount. A growing number of undergraduates say distance learning is simply not worth the price. –Jessica Dickler

10:00 am: Reports of new cases released on the East Coast

9:57 a.m .: Trump administration releases detailed CDC guide to reopening the country

A 17-page report created by a team from the Centers for Disease Control and Prevention with step-by-step advice to authorities on how and when to reopen restaurants and other public places has been put aside by the Trump administration , reported the Associated Press.

The document was due to be released last Friday, but scientists were told the report “would never see the light of day,” a CDC official told AP. In general, it is the role of the CDC to provide local and national authorities with scientific advice and information during public health crises.

Former head of the U.S. Food and Drug Administration and CNBC contributor, Dr. Scott Gottlieb that sidelining the report was ironic, saying, “The irony of the CDC not publishing its reopening guidelines, for whatever reason, is that many companies literally cannot reopen without him because the CDC is a de facto regulator in a public health crisis. The CDC is to publish its framework document to issue more detailed specific industry guidelines. ” —Terri Cullen

Disclosure: Scott Gottlieb is a CNBC contributor and a member of the boards of directors of Pfizer and the biotechnology company Illumina.

9:45 a.m .: The Nasdaq Composite becomes positive for the year, Dow jumps by 300 points

Stocks rose at the start of the session, with investors betting that the US economy would reopen soon. The Dow Jones Industrial Average is trading 304 more points, or more than 1%. The S&P 500 gained 1.5% with the Nasdaq Composite. The tech-rich Nasdaq has also turned positive for 2020.

Read updates on US market activity by Fred Imbert and Thomas Franck of CNBC. —Melodie Warner

9:22 a.m .: the curve of reported cases shows signs of flattening

8:58 a.m .: European airlines warn that it may take years for demand to rebound

IAG – the parent company of British Airways, Vueling and Iberia – and AirFrance-KLM have withdrawn their profit forecasts for the year due to uncertainty about the return to normal for travel.

“We anticipate a significant return to service in July 2020 at the earliest, based on easing blockages and travel restrictions around the world,” said Willie Walsh, CEO of IAG, in a statement.

“However, we do not expect passenger demand to return to 2019 levels before 2023 at the earliest. “

AirFrance-KLM also warned that it will take “several years” to return to the demand for pre-coronavirus passengers.

Learn more about the quarterly results of AirFrance-KLM and IAG of Silvia Amaro of CNBC. —Melodie Warner

8:30 a.m .: 3.17 million more Americans apply for unemployment

Last week, 3.17 million Americans filed initial unemployment assistance claims, bringing the total number of claims over seven weeks to over 33 million.

Economists polled by Dow Jones expected a total of 3.05 million. Learn more about CNBC’s Jeff Cox unemployment claims data. —Sara Salinas

8:12 a.m .: Kohl’s starts reopening, on track to find 25% of stores by next week

Kohl’s announced that it would reopen stores in 10 additional states on Monday, after reopening in four states – Arkansas, South Carolina, Utah and Oklahoma – earlier this week. CEO Michelle Gass said about 25% of Kohl’s stores will be open next week if all goes according to plan.

Hours of operation until further notice will be reduced from 11 a.m. to 7 p.m., the company said, and shopping hours will be in place for those at risk, including pregnant women, every Monday, Wednesday and Friday. , from 11 a.m. to noon. . The retailer will close all fitting rooms until further notice.

Kohl’s also said he would still accept returns from Amazon – a program he rolled out across all sites last year – in a separate part of each store.

Kohl’s joins a growing list of retailers, including Macy’s, Nordstrom and Gap, who are putting in place plans to get the stores back up and running and close their closings in mid-March. It remains to be seen if buyers are ready to return. –Lauren Thomas

7.41 a.m .: FDA approves Moderna vaccine for phase 2 study

The Food and Drug Administration has approved a Covid-19 vaccine candidate from drug maker Moderna to enter a phase 2 trial.

The trial will involve 600 participants and is a “crucial step” towards the potential full clearance of a first batch by 2021, the company said. Moderna’s shares jumped on the news.

Learn more about Moderna’s announcement and the upcoming trial of CNBC’s Will Feuer. —Sara Salinas

6:20 am: German authorities warn that the crisis is not yet over

German authorities have warned that the coronavirus crisis is not over yet, despite efforts to open up the economy and public life more and more as the number of new infections tends to decline.

“We are not living after the pandemic now – we are rather living in the middle of a pandemic, which will be with us for a while – at least for this year and that is very optimistic,” said Helge Braun, chief of Chancellor Angela Merkel. staff, radio Deutschlandfunk said, according to a Reuters report.

Germany has registered 168,162 cases of virus and 7,275 deaths, far fewer deaths than other Western European countries, including France, Italy, Spain and the United Kingdom.

Lars Schaade, vice president of the Robert Koch Institute, warned that the country may see a second wave of infections as restrictions are lifted and “when human behavior becomes more relaxed so that it there are more transmissions ”.

Germany started lifting the restrictions several weeks ago, allowing small stores to reopen. Schools reopened earlier this week. Merkel has launched an “emergency brake” mechanism allowing for further restrictions in the event of renewed infections. –Holly Ellyatt

Read CNBC coverage by CNBC Asia Pacific and Europe teams overnight here: Russia reports new cases every day and UK economy could shrink 14% this year

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