Global Covid-19 deaths surpassed 300,000 on Thursday, as governments continue to relax lockdown restrictions around the world. More than 85,000 of those deaths — almost a third of the global tally — are in the U.S. President Donald Trump continues to tout vaccine research and testing capabilities, reiterating on Thursday that a vaccine could be developed and distributed within a year.
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- Global cases: More than 4.4 million
- Global deaths: At least 300,315
- US cases: More than 1.4 million
- US deaths: At least 85,066
The data above was compiled by Johns Hopkins University.
The U.S. Food and Drug Administration issued an alert on Thursday saying Abbott Labs' ID NOW rapid Covid-19 diagnostic test may be delivering false negative results.
The FDA is evaluating data about inaccurate results and is working with the company to create mechanisms for studying the test, the alert said. Although ID NOW may be delivering false negatives, the test can still be used to correctly identify positive cases of Covid-19, the FDA alert said. —Salvador Rodriguez
The White House would likely support another round of stimulus checks, two senior administrative officials told CNBC on Thursday.
The White House did not provide further comment except to release a statement which said:
"As President Trump has said, we are going to ensure that we take care of all Americans so that we emerge from this challenge healthy, stronger, and with economic prosperity, which is why the White House is focused on pro-growth, middle class tax and regulatory relief." —Riya Bhattacharjee
The Centers for Disease Control and Prevention on Thursday issued an alert for an illness in children that is associated with Covid-19.
There have been reports of children who have tested positive for Covid-19 and have presented the symptoms of the Multisystem Inflammatory Syndrome in Children, or MIS-C, in the U.K. and in New York, according to the CDC alert.
The CDC is asking healthcare providers who have cared for or are caring for patients younger than 21 and meet the MIS-C criteria to report the suspected cases to their local and state health departments. The CDC alert comes after New York Gov. Andrew Cuomo put out criteria for the illness. Symptoms for the illness include prolonged fever, severe abdominal pain, diarrhea, vomiting, bloodshot eyes and skin rash, among others, according to a release from Cuomo's office. "It is currently unknown if multisystem inflammatory syndrome is specific to children or if it also occurs in adults," the CDC alert said. —Salvador Rodriguez
7:05 pm: Long Island Amazon worker dies from coronavirus amid calls for the company to release data on total infections
An Amazon warehouse employee in Bethpage, New York has died from the coronavirus, the company confirmed.
George Leigh, who worked out of an Amazon distribution center, known as DNY4, died of Covid-19 on April 9. Leigh's passing marks the sixth known case of an Amazon worker who has died from the virus, following reports of deaths in Jeffersonville, Indiana; Waukegan, Illinois; Staten Island, New York; Hawthorne, California, and Tracy, California.
It comes as Amazon faces growing pressure to disclose how many of its workers have tested positive or died from the coronavirus at its facilities nationwide.
On Tuesday, 13 U.S. attorneys general asked Amazon CEO Jeff Bezos and Whole Foods CEO John Mackey to provide a state-by-state breakdown of this information.
In a 60 Minutes interview that aired Sunday, Dave Clark, Amazon's senior vice president of operations, said he did not know the total number of coronavirus infections at the company. —Annie Palmer
6:46 pm: Mexico releases new guidelines for reopening plants, potentially throwing off US auto production
Automakers and auto suppliers that expected to reopen plants and begin production next week in Mexico were caught off guard by new government guidelines to reopen the economy.
A notice from the health ministry, published online in the government's Official Gazette, says that production can't begin until June 1, potentially throwing off U.S. manufacturing as well as plans for vehicle production in Mexico.
The guidelines come a day after Mexican President Andres Manuel Lopez Obrador announced that manufacturers could restart production as early as Monday, in line with similar plans for the Detroit automakers to restart North American production.
The June start date, according to the notice, gives companies time to implement health and safety protocols to reduce the spread of Covid-19. Companies can start preparing their facilities Monday so production can resume June 1, the notice said. —Michael Wayland
A group of five Democrats from both houses of Congress introduced a bill to protect consumers' health data during the public health crises.
The bill would safeguard data collected through contact tracing systems, like those being developed by Apple and Google.
Contact tracing works based on short-range signals sent between smartphones. Those signals are tracked so that when someone who is part of the system tests positive, an anonymous notification would be sent to others who had been in contact with that person, letting them know they may have been exposed to the virus.
The Public Health Emergency Privacy Act would mandate that health data collected during the crisis be deleted once it's over and requires that companies obtain opt-in consent for users' data.
Apple and Google already plan to make this a part of their design, though other contact tracing systems are being developed that would provide fewer protections, potentially making them more valuable to public health officials hoping to get a handle on how the virus is spreading.
If the bill came into effect, it could serve an important role in building confidence in contact tracing, which would make them more effective by covering a greater portion of the population. Based on an Axios-Ipsos poll of nearly 1,000 U.S. adults conducted between May 8 and 11, 66% of respondents said they would be not at all or not be very likely to use a contact tracing system made by major tech companies. —Lauren Feiner
6 pm: Mark Cuban says the market is overvalued because it's 'almost impossible' to predict consumer demand
California Gov. Gavin Newsom said that the state's unemployment rate could reach a peak of 24.5% due to the economic fallout from the coronavirus outbreak.
He said 4.6 million unemployment claims have been filed since mid-March, when the state issued its stay-at-home order and shuttered nonessential businesses across the state. Newsom compared the number of claims to the peak of the state's fallout from the financial crisis when 2.2 million claims were filed in 2010."We are at a time that's simply unprecedented," he said.
His administration is facing a budget shortfall of $54.3 billion due to the Covid-19 outbreak. Earlier this year, Newsom's budget reported a $5.6 billion surplus and a record-low 3.9% unemployment rate. —Noah Higgins-Dunn
Two of the states hit hardest by the coronavirus took further reopening measures Thursday. New Jersey Gov. Phil Murphy announced that the state's beaches will reopen under social-distancing guidelines by Memorial Day weekend, while New York Gov. Andrew Cuomo expanded the first phase of the state's reopening plan to include two more regions.
Bars and restaurants continued to reopen across Wisconsin after the state supreme court declared Gov. Tony Evers' stay-at-home order invalid. For more updates on states' reopening progress, click here. —Hannah Miller
Disney's stage production of the hit animated movie "Frozen" will not reopen on Broadway.
"This difficult decision was made for several reasons but primarily because we believe that three Disney productions will be one too many titles to run successfully in Broadway's new landscape," Thomas Schumacher, the president of Disney Theatrical Productions, said in a letter to his staff.Disney's "Aladdin" and "The Lion King" shows are set to resume once theaters are able to reopen in New York City.Broadway is not expected to open its doors again until at least Labor Day.
Georgia Gov. Brian Kemp announced that he is allowing Nascar to hold a race on June 7.
The Folds of Honor QuikTrip 500 will take place without spectators at Atlanta Motor Speedway. "As we continue the measured process of reopening our state, I am confident in their plan to return to racing safely," Kemp said in a statement.The race will take place with new safety measures in place such as limiting overall personnel, sanitizing areas of the racing facility during the event and using personal protection equipment. —Hannah Miller
Athletic apparel and sneaker giant Nike is getting some of its stores back open in the U.S., but the company still expects the pandemic will have a "material" impact on its fiscal fourth quarter.
The company said Thursday that stalled wholesale orders have resulted in "significantly lower wholesale revenue and higher inventory." However, CEO John Donahoe added, "We believe this will be a catalyzing moment that strengthens Nike's long-term future."Nike said roughly 40% of its owned stores in its Europe, the Middle East and Africa region, 15% in its Asia Pacific and Latin America region, and 5% in North America, are open, some with reduced hours. 100% of owned stores in Greater China and South Korea are reopened, with traffic "progressing," it added. —Lauren Thomas
Disney and unions representing cast members at Walt Disney World have come to an agreement on what safeguards will be put in place to protect employees from the coronavirus once the company's Florida theme parks reopen.
Those measures include mandatory masks for workers and guests, as well as social distancing measures. While Disney has plans to open its shopping and entertainment venue Disney Springs on May 20, there is currently no reopening date set for Walt Disney World in Florida or Disneyland in California. The only Disney park that is currently open is Shanghai Disneyland. —Sarah Whitten
3:41 pm: Theme parks will be different the next time you visit, as Covid-19 reshapes a century-old business
Theme parks have always been designed for big crowds. However, as the coronavirus has forced states to implement social distancing restrictions and new safety protocols, owners of amusement destinations are going to have to rewrite their playbooks.
Guests that go to theme parks in the wake of Covid-19 should expect to be asked to wear masks, unless they are eating, to have their temperature checked at the gate and to purchase their tickets in advance of arriving at the gates. Parks are going to rely more heavily on technology to sell tickets, provide ride reservations and assist with restaurant and retail purchases. While these locations won't stop accepting cash, they will likely encourage visitors to use cashless payment apps. —Sarah Whitten
The Michigan state Capitol saw hundreds of protesters calling on Gov. Gretchen Whitmer to lift stay-at-home restrictions and allow businesses to reopen. Smaller than past demonstrations, the most recent protest was led by conservative activist group Michigan United for Liberty, the Associated Press reports. Michigan currently has a stay-at-home order in place until at least May 28. —Hannah Miller
Five regions in New York will begin phase one of the state's reopening plan on Friday, which includes resuming construction work and allowing retailers to reopen with curbside or in-store pickup.
According to Gov. Andrew Cuomo, the five areas are located in upstate and central New York and have met the seven metrics outlined by health officials.
"This is all based on the metrics and the numbers," Cuomo said. "The big responsibilities for local governments to manage reopening businesses are daily monitoring of numbers, watching for business compliance and individual compliance."
New York City is yet to reopen as it has only met four of the seven required criteria to begin its phased reopening. —Jasmine Kim
Earners at the bottom end of the wage scale have taken some of the biggest hits during the coronavirus pandemic, according to a Federal Reserve report. The Fed found that 39% of households with incomes less than $40,000 had seen a layoff as the virus triggered a shutdown across wide swaths of the U.S. economy. The study also showed that most of those furloughed expect to be called back to work eventually, though households also showed a low level of cash on hand for emergencies. –Jeff Cox
Restaurants and bars in Wisconsin are reopening after the state's supreme court ruled on Wednesday that Gov. Tony Evers' stay-at-home order was invalid. Evers, a Democrat, will now have to work with the state's legislature, which is controlled by Republicans, to implement a new statewide plan, the Associated Press reports. President Donald Trump praised the court ruling as a "win." —Hannah Miller
Sen. Minority Leader Chuck Schumer said he hopes Congress will be able to push out another coronavirus relief bill to help Americans dealing with financial difficulties because of the pandemic.
House Democrats plan to pass a $3 trillion relief package Friday, with proposals in it for more federal money toward state and local governments, testing, and direct payments to Americans, among other things. But Republicans have criticized the plan, referring to it as an expensive wish list.
"Despite my worry and concern that our Republicans are sitting on the sidelines, I am optimistic we can get something done," Schumer said. —Yelena Dzhanova
Starbucks sent a letter to landlords demanding a break on rent for the next 12 months, starting June 1.
The coffee chain has seen the pandemic hammer sales, losing an estimated $915 million in revenue during the first three months of the year.
Despite the blows to its business, Starbucks CFO Pat Grismer told analysts in late April that the company was current on its rent payment.
Entrepreneurs who borrowed less than $2 million from the Paycheck Protection Program likely won't face an audit from federal authorities.
Applicants to the forgivable federal loan program must certify in good faith that "current economic uncertainty" made the request necessary. The Treasury Department and the Small Business Administration, the federal agencies overseeing the loans, have said that companies must consider their ability to access other sources of liquidity when indicating they need funding.
Now, Treasury and the SBA say that firms with loans under $2 million will be deemed to have made the required certification in good faith.
"Given the large volume of PPP loans, this approach will enable SBA to conserve its finite audit resources and focus its reviews on larger loans, where the compliance effort may yield higher returns," the agency said in a set of "frequently asked questions" released Wednesday. —Darla Mercado
Another 2.98 million workers filed for unemployment benefits last week for the first time, but continuing claims rose just about a half million. There were 22.83 million continuing claims, from the week of May 2, and economists said the smaller-than-expected increase suggests some workers are returning to their jobs.
In total since early March, more than 36 million claims have been filed for state unemployment benefits. Economists said manufacturing workers have been returning to work, as well as employees at companies that received the federal Paycheck Protection Program aid. —Patti Domm
Rick Bright, who oversaw the U.S. Biomedical Advanced Research and Development Authority, told a House subcommittee that officials at the Department of Health and Human Services ignored his warnings in January that the nation would see a shortage of critical supplies, including N95 respirators, for health professionals.
Bright, who was ousted from his position, said officials informed him that they did not believe there was a critical urgency to procure masks and would change U.S. Centers for Disease Control and Prevention guidelines by advising the public against wearing medical-grade equipment to save the supply for health workers as a potential solution.
Doctors and nurses in the nation's hospitals have relied on N95 respirators that were procured in other countries but don't meet U.S. safety standards, Bright said. —Noah Higgins-Dunn
Clean bathrooms every half hour, install protective partitions and turn off soda fountains if an employee isn't able to operate them. Those are just a few of the requirements and recommendations from McDonald's 59-page guide to reopening dining rooms, sent to U.S. franchisees.
Still, the company is in no rush to reopen dining rooms, leaving the decision ultimately up to individual franchisees. "We ask that you remember: we only get one chance to do this the right way," the company wrote in the guide. —Amelia Lucas
As companies consider the possibility of having employees work from home long term, doubt has been cast on the future viability of the office real estate market. However, the market could survive with new trends, CNBC's Diana Olick reports.
Companies may be looking for more office space in order to encourage social distancing and considering moving from cities to suburban areas to be closer to where employees live. —Hannah Miller
Unforeseen obstacles to developing a coronavirus vaccine are likely, and that means one won't be ready for distribution in 18 months, federal whistleblower Rick Bright testified.
"A lot of optimism is swirling around a 12-to-18 month time frame if everything goes perfectly. We've never seen everything go perfectly," Bright told members of the House health subcommittee. "I still think 12 to 18 months is an aggressive schedule and I think it's going to take longer than that to do so."
President Donald Trump has said he believes a vaccine will be ready by the end of the year and other White House officials have said it will likely take 12 to 18 months. Trump is expected to appoint a former pharmaceutical executive to lead "Operation Warp Speed," Trump's plan to accelerate the development of a vaccine. —Will Feuer
A government watchdog determined that the removal of Rick Bright as director of the Biomedical Advanced Research and Development Authority posed a "substantial likelihood of wrongdoing," according to documents released by his lawyers.
Bright last month was ousted from his role after expressing resistance to increasing the availability of hydroxychloroquine, the anti-malarial drug touted by President Donald Trump as a possible treatment for the coronavirus.
After his removal, Bright was transferred to another office at the Department of Health and Human Services, where he was given less responsibility.
The watchdog report, which came from the Office of the Special Counsel, was made public just before Bright began to testify at a House hearing about his transfer. —Yelena Dzhanova
The Trump administration will replenish the nation's strategic stockpile of critical supplies like N95 masks as the nation braces for a resurgence of the coronavirus in the fall.
A senior administration official, who declined to be named, said that the number of N95 masks in the nation's stockpile will jump from approximately 13 million to 300 million by the fall.
We're making sure that as we go into the fall we're in a position where America never has to shut down again," the official added. —Amanda Macias
The chancellor of California State University told CNBC that fear of a second wave of coronavirus cases is why the school system announced plans for a mostly virtual fall semester.
"This has been very hard to do, and I hope I'm wrong, to be honest," Timothy White said in an interview that aired on CNBC's "Worldwide Exchange." "But we needed to be prepared to go in this direction."
White said the early announcement gives time for students and their families to plan ahead, while also allowing faculty and staff to adjust their curriculum.
"By the time we get to August, it may very well be the case that we're able to open more than we think we will be now," White said. - Kevin Stankiewicz
Chef Mike Lata, co-owner of Charleston's The Ordinary and FIG, plans to reopen the restaurants' dining rooms with limited capacity on Memorial Day — weeks after South Carolina's governor gave the go-ahead.
Lata, like many restaurant owners across the U.S., is considering how to make his dining rooms safe for customers and employees, while conscious that he needs to spend funding the Paycheck Protection Program before his eight weeks are up.
"Maybe in a perfect world, without this economic pressure that we've been given, this eight-week time line to use this money to keep our restaurants afloat, we probably wouldn't be opening this soon, but we feel like anyone that would be at risk won't be here," Lata said. —Amelia Lucas
Six Flags will reopen the safari area of its Great Adventure park in Jackson, New Jersey, to allow visitors to drive through the park and see its more than 1,200 exotic animals.
A new executive order from Gov. Phil Murphy has permitted companies to operate drive-thru events so long as they continue to implement proper social distancing guidelines.
Six Flags has not announced a specific opening date, but once it does, guests will be required to purchase tickets for the safari online before arriving at the park. The company is looking to prevent overcrowding and will not sell tickets at the gate.
The Great Adventure water park and the theme park will remain closed. —Sarah Whitten
From grocery delivery services to retail, online merchants are seeing an explosion of growth they hope will translate into new loyal customers. Retailers like Best Buy and Target have reported domestic online sales growth well over 200% during stay-at-home orders across the country. With more workers setting up home offices, Overstock.com said it experienced 100% growth in its office furniture sales.
Bookshop.org, an online marketplace created to help independent booksellers set up internet storefronts, has blossomed to 175,000 customers after launching in beta at the end of January. CEO Andy Hunter said prior to the launch, prospective investors often told him the business was doomed to be crushed by Amazon, but the pandemic has helped drive more business to the site than he had expected by Christmas.
But the level playing field may not last for long as there are already some signs that Amazon is gaining the capacity to ramp up its services again. The company already had a huge lead on its e-commerce peers, with eMarketer estimating it will hold 38.7% of domestic e-commerce retail sales this year with Walmart, the runner-up, owning 5.3% of the market. —Lauren Feiner
Rick Bright, who has filed a whistleblower complaint, is testifying before the House Committee on Energy and Commerce, Subcommittee on Health about the circumstances of his unwilling transfer.
Bright claimed he was removed as director of the Biomedical Advanced Research and Development Authority after resisting efforts to increase access to an anti-malarial drug promoted by President Donald Trump as a treatment for Covid-19. —Terri Cullen
New York Mayor Bill de Blasio said that health officials have confirmed 100 cases of the pediatric multisystem inflammatory syndrome, up from 82 cases reported. PMIS is a potentially fatal illness mostly seen in children and young adults that doctors suspect is being caused by Covid-19 infections.
Of the 100 cases, 55 have tested positive for Covid-19 or have the antibodies against the disease, suggesting they previously had the coronavirus and recovered, de Blasio said. The city has reported one fatality from PMIS.
City health officials don't know what makes kids more susceptible to the disease, how long it takes to manifest or their likelihood of developing it, the mayor added. The disease is treatable, however, if diagnosed early. "This is a deep concern and we're going to throw everything we got at it," de Blasio said. —Noah Higgins-Dunn
A private jet company that serves wealthy executives and celebrities received a $27 million bailout from the federal government's relief package aimed at keeping people employed, according to government filings.
Clay Lacy Aviation, based in California, was founded by Clay Lacy who donated $2,700 to the Trump campaign in 2016 and gave $47,000 to the Republican National Committee after Trump became the party's nominee.
The company received the largest grant of any private jet company on the list. Most of the other 96 recipients of government funding or loans were the major commercial airlines, regional carriers or support companies. —Spencer Kimball, Robert Frank
Carnival announced the "encouraging" news that fewer than 38% of customers who were supposed to be cruises that have been canceled due to the coronavirus pandemic have requested refunds. Customers whose trips were canceled had the option to request a refund or receive a 125% credit toward a future cruise. Industry analysts are closely watching the number of how many customers request a refund as it could indicate the resiliency of consumer demand as the industry is forced to idle ships for months on end.
Carnival, the largest cruise company in the world, managed to dole out more future cruise credits than rival Norwegian Cruise Line, which reported Thursday that "slightly over half" of guests who had trips canceled have requested cash refunds. Refunding thousands of customers is another cash drain on cruise companies, which are already scrambling for cash.
"Our booking trends for the first half of 2021, which remain within historical ranges, demonstrate the resilience of our brands and the strength of our loyal recurring customer base, of which 66% are repeat cruisers," Carnival CEO Arnold Donald said in a statement.
Carnival also announced companywide layoffs, furloughs, reduced workweeks and salary reductions to strengthen its cash position. —Will Feuer
The Dow Jones Industrial Average dropped about 400 point and headed to a fourth consecutive day of losses after jobless claims came in worse than expected as the coronavirus continues to hammer the economy.
That pushed the Dow's weekly loss to more than 6%, while the S&P 500 and Nasdaq Composite traded around 1.7% lower, putting them on track for a third negative session in the row.
Another 2.9 million Americans filed for unemployment, bringing the total since the crisis started to 36.5 million. —Spencer Kimball, Fred Imbert
Dr. Scott Gottlieb told CNBC that schools should try to hold in-person classes in the fall, as long as local cases of the coronavirus are under control.
"I do think we're going to have to contend with Covid going into the fall, but it might not be in September. It might occur later into the fall, and we should at least make an attempt to open the schools if this isn't spreading widely," Gottlieb said on "Squawk Box."
Gottlieb, a CNBC contributor who sits on the boards of Pfizer and Illumina, said it is not a "national-level decision" right now on whether in-person classes should be held in the fall. It will be made at the local level, he said.
"But I think it's too early to say whether or not we are going to be able to open the schools in the fall. We will have to see what happens in July and August," he said. —Kevin Stankiewicz
CVS Health will start offering Covid-19 testing on Friday at some of its pharmacy drive-thru windows.
The company said it will open more than 50 additional test sites at the pharmacies. The testing sites are in Arizona, Connecticut, Florida, Massachusetts and Pennsylvania. CVS said it plans to open hundreds of similar test sites within two weeks.
To get a test, people must make an appointment at CVS' website and meet Centers for Disease Control and Prevention criteria. Those who qualify will stay in their cars and rece