KEY POINTS
  • As of Saturday, the 7-day average of daily new cases fell to under 50,000, down 17% from a week prior. Hospitalizations and deaths from the disease are also falling.
  • Former FDA commissioner Scott Gottlieb said a precipitous drop in new Covid-19 cases was likely to continue, predicting a "relatively quiet summer when it comes to coronavirus spread."
  • More than 100 million people in the U.S. are fully vaccinated against Covid-19, or nearly a third of the population.
A person walks in Times Square after the Centers for Disease Control and Prevention (CDC) announced new guidelines regarding outdoor mask wearing and vaccination during the outbreak of the coronavirus disease (COVID-19) in Manhattan, New York City, New York, U.S., April 27, 2021.

New cases of Covid-19 are dropping sharply across the U.S. as millions of people get vaccinated daily, fueling optimism that the nation may have averted the surge of infections gripping other parts of the world and is finally turning the corner on what was one of the worse outbreaks globally.

As of Saturday, the 7-day average of daily new cases fell to under 50,000 for the first time since October and is down 17% from a week prior, according to a CNBC analysis of data from Johns Hopkins University. Hospitalizations and deaths from the disease are also falling.