Health experts and asset markets are watching closely as segments of the U.S. reopen their economies. Across the Atlantic, U.K. Prime Minister Boris Johnson is back at work after recovering from the virus, delivering a sober address about the nation's progress in fighting the Covid-19 outbreak.
This is CNBC's live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks.
- Global cases: More than 3 million
- Global deaths: At least 208,131
- US cases: More than 972,900
- US deaths: At least 55,118
The data above was compiled by Johns Hopkins University.
1:23 pm: New York Gov. Cuomo says he talked to Trump about keeping temporary hospitals in place in case of second wave of coronavirus
People wait in line at a New York State Department of Health COVID-19 antibody testing center at Steve's 9th Street Market in Brooklyn, New York, the United States, on April 25, 2020.
Michael Nagle | Xinhua via Getty
1:16 pm: Los Angeles Lakers got $4.6 million in coronavirus federal loan money for small business, but repaid it
1:07 pm: Investment firms spent millions lobbying Trump administration and Congress on coronavirus relief bill
Some of the world's largest investment firms combined to spend at least $3 million lobbying members of the Trump administration and lawmakers on a bill that was meant to give relief to those that have taken a financial hit due to the coronavirus.
Blackstone, the Carlyle Group and SoftBank took aim at the $2 trillion stimulus package that was signed by President Donald Trump in late March as the global pandemic was shaking the stock market and forcing millions of people out of work. These companies and their lobbyists engaged with U.S. Treasury officials and leaders in the House and Senate, records show.
People close to two of these companies say the lobbying goals ranged from pushing for their portfolio companies to participate in the federal loan program to monitoring the legislation as it developed. None appear to be trying to get small business loans to go directly into the private equity industry.
The discovery was made by CNBC after reviewing new first-quarter lobbying reports. Many leaders of these companies have ties to Trump himself, including Steve Schwarzman, CEO of private equity giant Blackstone. Schwarzman took part in a March 24 call with other prominent investors such as Third Point's Dan Loeb, Intercontinental Exchange's Jeffrey Sprecher and Paul Tudor Jones. —Brian Schwartz
12:58 pm: More people are pirating movies during the pandemic lockdown
Streaming services have seen a major surge in subscriber growth during the coronavirus pandemic, but the outbreak is also driving more people to use pirated movie websites.
New data from Muso, a piracy tracking firm, found that during the last seven days of March, there was a 43% spike in Americans visiting sites that pirate movies compared with the last seven days of February.
"This unprecedented increase in visits to online film piracy sites in the last week of March reveals that as more countries enforced lockdown and required citizens to self-isolate, demand for content via piracy grew exponentially," the company said in a statement.
Notably, Italy, which went under lockdown orders on March 9, saw visits to piracy sites spike 66%. —Sarah Whitten
12:51 pm: UK government announces $74,500 payout for the families of health workers that die from the coronavirus
U.K. Health Minister Matt Hancock has announced a "life assurance scheme" for the families of staff in the National Health Service (NHS) and social care who die as a result of Covid-19.
In the government's daily press conference, Hancock said that the families of those who die doing "frontline work" will receive a payout worth £60,000 ($74,500 US).
He said that nothing replaced the loss of loved one, "but we want to do everything we can for their grieving families."
To date, 82 NHS health workers and 16 care workers had died in the U.K. from the coronavirus, Hancock added. The government also reported 360 new hospital deaths in the country, taking the total to 21,092. —Katrina Bishop
12:35 pm: After coronavirus: The office of the future is the office of the past
Say hello to the high-walled cubicles made famous in the 1999 film, "Office Space," because they're about to make a comeback.
For years offices have crammed more employees into smaller spaces, while creating an open collaborative atmosphere.
"If you think about tech companies that are highly dense and working in those 'benching workstations' side by side," said Gable Clarke, director of interior design at the architecture firm SGA. Now with Covid-19, things like "benching" are the opposite of what employees want to face as they return to work.
As companies plan out how to bring their workforce together again in the office, there are numerious calculations being made to provide an environment that will keep workers safe, healthy and productive. While some of that strategy involves testing and montoring employees to prevent the spread of the coronavirus, there is thought being paid to the actual physical design of offices. —Jane Wells
12:23 pm: The market is rebounding on hope for a treatment, new index tracking coronavirus-drug makers shows
12:12 pm: Dr. Scott Gottlieb sees 'some level' of immunity for most people who had coronavirus
Dr. Scott Gottlieb told CNBC he believes that most people who had the new coronavirus will have "some level" of immunity.
"Now how long that immunity lasts, how strong it is, we don't know. It might not last that long in certain people. It might not be that strong so you can get reinfected but perhaps not get as sick," he said on "Squawk Box."
Gottlieb, the former commissioner of the U.S. Food and Drug Administration, was responding to a warning put out last week by the World Health Organization, which later clarified its position.
The WHO on Friday advised governments against issuing so-called immunity passports to people who have antibodies for Covid-19 to travel or return to work "assuming that they are protected against re-infection."
"There is currently no evidence that people who have recovered from COVID-19 and have antibodies are protected from a second infection," the organization wrote in a scientific brief dated April 24.
In follow-up tweets Saturday, the WHO clarified that it also expects Covid-19 antibodies will "provide some level of protection." —Kevin Stankiewicz
12:01 pm: WHO warns that 'children will die' as coronavirus pandemic postpones vaccinations against other diseases
Children ride a bicycle past a coronavirus awareness graffiti during a lockdown. Indonesian local artists drew murals on the walls of the houses for the residents to educate and encourage public optimism in the fight against Corona Virus or COVID-19 pandemic in Depok, a city in Jakarta outskirts.
Risa Krisadhi | SOPA Images | Getty Images
The World Health Organization warned that children across the world will die as the coronavirus pandemic forces some countries to temporarily halt vaccinations for other deadly diseases like polio.
At least 21 countries are reporting vaccine shortages as a result of travel restrictions meant to curb the spread of the Covid-19 pandemic, WHO Director-General Tedros Adhanom Ghebreyesus said during a press conference at the agency's Geneva headquarters. "The tragic reality is children will die as a result."
Just as immunization has been postponed in some countries, heath-care services for other diseases, like malaria, have been disrupted, Tedros said, noting that the number of malaria cases in Sub-Saharan Africa could double. —Berkeley Lovelace Jr.
11:51 am: Homebuilders suddenly see sales jump as renters flee small urban apartments
Contractors construct a wood deck while working on a home under construction in the Norton Commons subdivision in Louisville, Kentucky, U.S., on Monday, March 23, 2020.
Luke Sharrett | Bloomberg | Getty Images
Home sales nearly ground to a halt at the end of March, as the coronavirus pandemic forced an economic shutdown that scuttled open houses and shattered consumer confidence. Now, demand appears to be coming back, especially for newly built homes.
In the initial four weeks of the national shutdown, sales of newly built homes began falling precipitously, down 85% from normal spring activity by the fourth week. In the past two weeks, however, the numbers have started to climb, according to John Burns Real Estate Consulting, which tracks hundreds of builders nationwide.
"We're still down roughly 65%, but more positive news is coming out of the new home market, particularly for builders who are targeting the first time and entry level buyers," said Devyn Bachman, manager of research at JBRC. She noted that a wave of renters are leaving their apartments and eyeing new homes. —Diana Olick
11:43 am: College enrollment likely to drop as schools consider staying closed until 2021
Pedestrians walk through Harvard Yard on the closed Harvard University campus in Cambridge, Massachusetts, U.S., on Monday, April 20, 2020.
Adam Glanzam | Bloomberg | Getty Images
While the global coronavirus pandemic and extreme economic uncertainty have pushed many schools to extend the decision deadline until June 1, they are are also postponing a final determination of what students can expect come August.
Current and prospective college students and their parents don't feel remote learning has the same value as in-person instruction. Rather than commit to online classes at a pricey four-year institution, many college-bound seniors have said they will take a gap year or enroll for a semester or two at a community college instead.
At two-year public schools, tuition and fees are just $3,730 for the 2019–2020 school year, according to the College Board. Alternatively, at in-state four-year public schools, tuition is $10,440 and at four-year private universities it averages $36,880. —Jessica Dickler
11:27 am: Boeing CEO says air travel recovery could take two to three years; board wins approval
Boeing CEO Dave Calhoun told shareholders that air travel demand won't recover for two or three years, another challenge for the manufacturer that was reeling from the 737 Max grounding before the coronavirus pandemic. Investors approved the company's board.
Boeing is scrambling to cut costs to meet the weak demand for new jetliners. Air travel in the U.S. is about 5% of what it was a year ago and airlines have parked more than a third of the country's fleet and some are planning to defer orders of new planes.
"When it does [recover], the commercial market will be smaller," Calhoun said in a webcast of the company's annual shareholders meeting. —Leslie Josephs
11:16 am: CVS and UPS will use drones to deliver prescriptions in a retirement community amid coronavirus outbreak
A UPS Drone in flight.
Source: UPS
CVS and the United Parcel Service will start using drones next week to deliver prescription medications to residents in a Florida retirement community in an effort to maintain social distancing measures, UPS announced.
Starting May 4, the 135,000 residents in The Villages can receive their medications via Matternet's M2 drone system, in cooperation with the Federal Aviation Administration. The drones will drop off prescriptions to a location near the community and a truck finish the delivery, UPS said. The company said it may expand its service to include deliveries from two more local CVS pharmacies.
"Our new drone delivery service will help CVS provide safe and efficient deliveries of medicines to this large retirement community, enabling residents to receive medications without leaving their homes," Scott Price, UPS chief strategy and transformation officer, said in a press release. "UPS is committed to playing its part in fighting COVID-19, and this is another way we can support our healthcare customers and individuals with innovative solutions." —Jessica Bursztynsky
10:58 am: Wall Street rally gains steam, with Dow up 250 points
10:30 am: NYC to hire 1,000 health workers to trace cases
New York City plans to hire 1,000 health workers to track coronavirus cases as well as anyone who has come into contact with someone who's tested positive for Covid-19, Mayor Bill de Blasio said.
"We are hiring. We are looking for talented, experienced health workers," de Blasio said at a news briefing. "If you have experience in the health care field, if you're ready to lend your talents to this fight, we need you and we need you right away. We are hiring immediately and we'll be hiring throughout the month of May."
The city's team of contact tracers will interview and identify people who have come into contact with those who tested positive for Covid-19, said de Blasio, who called them "disease detectives." The tracers will also provide support to New Yorkers who need to be isolated, de Blasio said. —Will Feuer, Jasmine Kim
10:26 am: Coronavirus takes a toll in New Jersey
Medical workers load a patient from Andover Subacute and Rehabilitation Center into an ambulance while wearing masks and personal protective equipment (PPE) on April 16, 2020 in Andover, New Jersey. After an anonymous tip to police, 17 people were found dead at the long-term care facility, including two nurses, where at least 76 patients and 41 staff members have tested positive for COVID-19.
Eduardo Munoz Alvarez | Getty Images
New Jersey residents have felt the effects of the coronavirus more acutely than the rest of the country, a new poll found.
About 7 in 10 respondents in the state, or 71%, said the pandemic has had a "major impact" on their lives, according to the Monmouth University poll. Nationally, 62% of people said the same, a previous Monmouth survey found.
In the Garden State, 61% of adults said they know someone infected by the virus, compared with only 26% nationally. At the same time, 29% of people of color in New Jersey said they or a family member got the coronavirus, versus 20% of white people. New Jersey has more than 100,000 Covid-19 cases, second among states only to its neighbor New York.
The Monmouth University poll, taken from April 16 to 19, surveyed 704 New Jersey adults with a margin of error of plus or minus 3.7 percentage points. —Jacob Pramuk
9:50 am: Apple reportedly delays new iPhone production, putting 'super cycle' of upgrades in doubt
Tim Cook announces the iPhone 11 at a launch event in Cupertino, Calif on Sept. 10, 2019.
Source: Apple
Apple is gearing up for its next iPhone launch this fall, but plans could shift as the company as the company delays production, according to a new report.
The Wall Street Journal reported Monday that mass production for new iPhones has been pushed back "about a month." That means that even if Apple announces them in September, as it usually does, some or all of the models might not be available to buy in September.
The report says Apple is planning four new iPhones, including one with a 5.4-inch screen, two with 6.1-inch screens and a big model with a 6.7-inch screen. It's unclear how many of those phones may be impacted by the delay — the report just says "flagship iPhones" — but some analysts have said Apple could push the launch of some or all of its new phones. —Todd Haselton
9:44 am: Norwegian Cruise withdraws forecast, to cut $515 million in spending
Norwegian Cruise Line Holdings withdrew its 2020 forecast and said it will cut spending by about $515 million, as the cruise operator struggles to save cash amid the coronavirus pandemic that forced it to extend suspension of its schedule to June 30.
The company also withdrew its forecast for the first quarter, joining peer Royal Caribbean Cruises.
Norwegian Cruise Line estimates its cash burn to be about $110 million to $150 million per month as suspension of its three brands continues. —Reuters
9:36 am: NJ governor says the state needs more federal assistance to avoid an 'Armageddon' scenario
Gov. Phil Murphy said New Jersey could be headed toward an "Armageddon" scenario, with an inability to fund public schools or pay police if it doesn't receive more federal assistance due to the coronavirus pandemic.
Murphy, a Democrat, said on CNBC's "Squawk Box" that New Jersey's revenues "have fallen off a table" due to the coronavirus.
"Our costs are going up serving folks who have lost their jobs, small businesses that have been crushed, folks who are in the health-care system, et cetera," he said. —Kevin Stankiewicz
9:32 am: Dow rises more than 100 points to start the week
9:10 am: Swiss rush to get haircuts, visit dentists as coronavirus curbs ease
Haircuts, massages and shopping for garden supplies topped the agenda for Swiss residents as the country slowly started easing restrictions on public life imposed in March to fight the coronavirus.
Lines formed in front of garden centers as people battling cabin fever emerged from six weeks of staying at home at the government's urging.
"I think it is about time. We have to live our lives, so I think it is important that we keep doing our activities, and contact with people is so important, even in a queue like that," shopper Christiane Ansermet said as she waited to enter the Schillinger garden center in the town of Gland on Lake Geneva. —Reuters
9:08 am: Portugal eyes easing lockdown, textile firms step up mask production
Portugal may soon ease its coronavirus lockdown, but widespread use of protective equipment will be essential and the country does not rule out "taking a step back" if the situation worsens, Prime Minister Antonio Costa said.
During a visit to one of hundreds of textile firms reorienting to produce protective gear, he praised the industry for supporting the relaxation of restrictions and said face masks would likely be obligatory in certain locations such as schools and public transport.
"We are likely to go down a level (on restrictions), but normality will only come when we have a vaccine in a year, or year and a half," Costa said while visiting textile manufacturer Petratex, which is producing more than 100,000 masks a week.
"Until then, reopening will come with conditions — like using hand sanitizer, and masks. This industry initiative to produce them en masse is essential for public safety," he said. —Reuters
9 am: Doctors apply for SBA funding in struggle to keep practices afloat during the pandemic
Doctors shut out of the Payroll Protection Program loans are hoping money from the next round of funding will make it to more small practices.
Nearly half of physician practices have laid off staff to cut costs, while 1 in 5 worry that the sharp drop in office visits will force them to close. Nearly 90% of primary-care physicians say they've experienced significant losses in patient volumes, according to the most recent weekly Covid-19 impact survey from researchers at the Larry Green Center and the Primary Care Collaborative. —Bertha Coombs
8:43 am: Oil drops 20% extending recent losses as storage fills
Oil prices plunged more than 20% on fears that worldwide storage will soon fill as the coronavirus outbreak continues to roil demand.
West Texas Intermediate for June delivery fell 23.5%, or $4.02, to trade at $12.91 per barrel, while international benchmark Brent crude traded 6.2% lower at $20.11 per barrel. Each contract is coming off its eighth week of losses in nine weeks.
WTI for July delivery fell more than 11% to $18.84 while the August contract slipped more than 7% to $22, suggesting the Street doesn't see a meaningful recovery in the next few months. —Pippa Stevens
8:23 am: The latest on US hot spots
8:22 am: General Motors suspends dividend, stock buybacks to preserve cash
General Motors said it is suspending its quarterly dividend and stock buybacks to preserve cash during the coronavirus pandemic.
The automaker said it also extended a $3.6 billion, three-year revolving credit facility to April 2022 to help bolster its liquidity. GM said it has "taken other significant austerity measures to preserve near-term available cash."
GM's U.S. plants have been shuttered since mid-March due to Covid-19. —Michael Wayland
8:11 am: Regeneron, Sanofi shut down part of arthritis drug study after trial shows benefit for only sickest patients
A rheumatoid arthritis drug made by Regeneron and Sanofi showed promise for treating the sickest coronavirus patients in a clinical trial but was not beneficial for patients with less-advanced disease, prompting the companies to stop testing the medicine in that group.
The drug, Kevzara, inhibits a pathway thought to contribute to the lung inflammation in patients with the most severe forms of Covid-19.
Regeneron and Sanofi started clinical trials of the medicine in Covid-19 patients in March after a small study from China suggested a benefit from a Roche drug, Actemra, inhibiting the same pathway. —Meg Tirrell
7:21 am: CDC expands the official list of symptoms
The Centers for Disease Control and Prevention has added six new symptoms of Covid-19 to its website as scientists gather more data on the coronavirus and patients show "a wide range of symptoms," the agency said.
The previous list of symptoms included fever, cough and shortness of breath or difficulty breathing. The CDC now says chills, repeated shaking with chills, muscle pain, headache, sore throat and a sudden loss of taste or smell are also common indicators. —Jasmine Kim
7:02 am: Former FDA chief says there's still 'pervasive spread' in the US
Even as states weigh lifting social distancing restrictions, there is still pervasive spread of the virus throughout the country, former Food and Drug Administration Commissioner Scott Gottlieb told CNBC.
"The reality is there is still pervasive spread of coronavirus across the entire nation," he said on CNBC's "Squawk Box." "There's parts of the country, there's states where they never really had a significant outbreak that they certainly meet the criteria to start reopening aspects of the economy."
About five states meet the White House criteria for the necessary level of "sustained reduction" of new cases before restrictions can be lifted, Gottlieb said. He did not identify the states but added that the U.S. is reporting roughly 30,000 new cases every day and 2,000 new deaths. —Will Feuer
Disclosure: Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer and biotech company Illumina.
6:56 am: Adidas projects 40% decline in sales for the second quarter
Adidas has predicted that sales will fall by 40% in the second quarter, as the impact of the coronavirus takes hold.
The German sportswear giant on Monday reported a 19% decline in net sales for the first quarter from a year earlier to 4.75 billion euros ($5.16 billion), as 70% of its stores worldwide closed as a result of the Covid-19 pandemic.
Its first-quarter net income was 26 million euros, down 96% from a year earlier. Adidas said that owing to uncertainty over the duration of store closures, it would be unable to offer a full-year outlook. —Elliot Smith
6:44 pm: VW restarts production at its largest car factory in Germany
Volkswagen has restarted production at its largest factory, in Wolfsburg in Germany.
Production will start at 10% to 15% of capacity, VW said in a statement, increasing to around 40% the following week. The first vehicle to be produced will be the Golf model and the company said "maximum health protection" has been implemented to protect employees.
Ralf Brandstatter, chief operating officer of the Volkswagen Passenger Cars brand, said in the VW statement that "step-by-step resumption of production is an important signal for the workforce, dealerships, suppliers and the wider economy." —Holly Ellyatt
6:20 am: Virus dulls the Netherlands' annual Kings Day celebrations
King Willem-Alexander of the Netherlands has urged the public to stay at home to celebrate the annual 'King's Day' celebrations, which celebrate the monarch's birthday.
"This promises to be a unique King's Day, and mainly because I hope it will be the last King's Day-at-home ever. Try to make the best of it," the king said in a live TV broadcast to the public, Reuters reported.
King's Day normally attracts millions of people to street parties and music festivals in Amsterdam and throughout the country, but the coronavirus has forced the Dutch to stay at home due to lockdown measures. —Holly Ellyatt
5:51 am: China denies spreading virus disinformation following EU report
China's foreign ministry has denied claims that Beijing is spreading disinformation about the coronavirus.
"China is opposed to the creation and spreading of disinformation by anyone or any organisation. China is a victim of disinformation, not an initiator," foreign ministry spokesman Geng Shuang said at a regular press briefing on Monday, Reuters reported.
The denial comes after an EU report last week there was evidence that state-backed governments, including China and Russia, were responsible for spreading disinformation on the virus. —Holly Ellyatt
5:10 am: Spain's daily death toll rises slightly
RT: Mortuary workers wearing protective gear are seen at the San Juan de la Cruz funeral home, amid the coronavirus disease (COVID-19) outbreak in Segovia, Spain, April 23, 2020.
Susana Vera | REUTERS
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