CNBC.com's MacKenzie Sigalos brings you the day's top business headlines. With the Covid-19 pandemic showing no signs of stopping, governors and mayors have imposed new restriction measures, including closing in-person learning at public schools and shutting down indoor dining. Even though it's unlikely that we'll enter full-scale lockdowns like we did in the spring, Stifel's Chief Economist Lindsey Piegza explains why even partial shutdowns will hurt the U.S. economy. Plus, CNBC Wealth Editor Robert Frank dives into the finances and future of the Trump International Hotel in Washington D.C.
One week out from Thanksgiving, coronavirus cases are still on the rise across the U.S. The national seven-day average of daily new infections now stands at 161,165, according to a CNBC analysis of John Hopkins data, 26% higher than a week ago. Health experts are warning against travel and large gatherings for the holiday, encouraging Americans instead to stay home and slow the spread of the virus.
The Centers for Disease Control and Prevention on Thursday advised Americans not to travel for the Thanksgiving holiday to help prevent the spread of the coronavirus.
Dr. Henry Walke, the CDC's Covid-19 incident manager, said there is "no more important time than now for each and every American to redouble our efforts to watch our distance, wash our hands and, most importantly, wear a mask."
"CDC is recommending against travel during the Thanksgiving period," he said. "For Americans who decide to travel, CDC recommends doing so as safely as possible by following the same recommendations for everyday living."
The Trump Organization's efforts to sell the Trump International Hotel Washington DC have been put on indefinite hold, casting doubts on the future of one of the President's biggest financial bets, according to industry executives.
The Trump Organization hired Jones Lang LaSalle to shop the hotel to potential buyers last fall hoping for a price of about $500 million. People familiar with the deal talks said none of the bids came close to the asking price, and several were for less than $250 million. Jones Lang LaSalle confirmed to CNBC that efforts to sell the hotel are on "indefinite hold."