Northeast unlikely to see spike, Gottlieb says

White House trade advisor Peter Navarro told CNN’s “State of the Union” Sunday that the White House is preparing for a potential “problem in the fall.” On Monday, recent trends in Covid-19 data appeared to show little signs of slowing as a number of states continued to report a rise in new cases and hospitalizations.This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. Global cases: More than 8.97 millionGlobal deaths: At least 468,589U.S. cases: More than 2.28 millionU.S. deaths: At least 119,977The data above was compiled by Johns Hopkins University.Google’s U.S. ad revenue will drop for the first time ever, as the pandemic delivers blow to businesses12:55 p.m. ET — Google’s U.S. advertising revenue will see its first-ever decline this year, according to research firm eMarketer, which began modeling the business in 2008.The new report shows the extent to which even Google’s robust digital ad business has likely suffered during the coronavirus pandemic, which has taken an especially hard toll on some of the platform’s biggest advertisers in the travel industry. While advertising on YouTube is expected to grow, it won’t make up for Google’s expected 7.2% drop in net U.S. search ad revenue this year, according to eMarketer.The model also signals that Google’s digital advertising rivals may be able to close in on the company’s No. 1 spot in share of digital ad spend in the U.S. Both Facebook and Amazon are expected to continue growing their U.S. advertising revenue this year, though at slower rates than in previous years. Facebook and Amazon’s ad businesses have less exposure to the travel industry than Google, which could help them weather the crisis. —Lauren FeinerDisneyland Paris will reopen on July 15Disney character Mickey Mouse is seen above the entrance at Disneyland Paris during the 25th anniversary of the park, in Marne-la-Vallee, near Paris, France.Benoit Tessier | Reuters12:30 p.m. ET — Disney’s Paris-based theme park will reopen July 15, the company said. The park will limit attendance, increase cleaning and require social distancing and face coverings.The company said that more than 2,000 sanitizing and hand-washing stations will be available throughout Disneyland Paris on opening day. Cast members will also undergo new health and safety training prior to the parks reopening and will encourage guests to social distance and use contactless payments when possible.Single rider and Fast Pass services will temporarily be suspended on attractions and traditional meet-and-greets will not be available. Guests will see characters from Disney, Pixar, Star Wars and Marvel around the park and will be able to take photos with them. However, close interactions, including hugs, are temporarily suspended. —Sarah WhittenHospitalizations grow in Arizona, Texas as cases continue to increase across the U.S.11:46 a.m. ET — As of Sunday, the nation’s seven-day average of new Covid-19 cases increased more than 24% compared with a week ago, according to a CNBC analysis of Johns Hopkins University data. Cases are growing by 5% or more in 25 states across the U.S., including Arizona, Texas, Florida and Oklahoma.According to a CNBC analysis of data compiled by the Covid Tracking Project, hospitalizations from Covid-19 were growing in 14 states as of Sunday. In Texas, there have been 2,913 people currently hospitalized with Covid-19 based on a seven-day moving average, a 37% increase compared to a week ago. Arizona reported 1,702 people currently hospitalized on a seven-day average, a near 29% increase compared to a week ago. —Noah Higgins-DunnTrump economic advisor Kudlow says a second wave ‘isn’t coming’Larry Kudlow, director of the U.S. National Economic Council, speaks to members of the media outside the White House in Washington, D.C., U.S., on Monday, June 15, 2020.Photographer: Stefani Reynolds/CNP/Bloomberg via Getty Images10:56 a.m. ET — President Donald Trump’s chief economic advisor, Larry Kudlow, said a second wave of the coronavirus “isn’t coming” and he characterized reports of new cases in a handful of U.S. states as isolated hot spots.Kudlow’s remarks to CNBC came after the U.S. reported more than 30,000 new infections on Friday and Saturday, the highest daily totals since May 1. Peter Navarro, one of Trump’s top trade advisors, said Sunday that the White House is, in fact, preparing for another wave of the disease.Kudlow also said Monday that House, Senate and White House leaders will likely have another economic stimulus package in the weeks following Congress’s July recess. —Thomas FranckExisting home sales plummet in May from coronavirus effect10:52 a.m. ET — As the coronavirus pandemic continues to make an impact on the economy, existing home sales dropped 9.7% in May from the previous month to a seasonally adjusted annualized rate of 3.91 million units, according to the National Association of Realtors.Annually, sales are down 26.6%, the largest annual decline since 1982, CNBC’s Diana Olick reports. But realtors believe this could likely be the bottom point for home sales as the economy recovers.”Well into the month of June, I think people are much more relaxed, knowing that there is a massive stimulus package in the economy,” said Lawrence Yun, chief economist for the Realtors. “I am very confident that this will be the cyclical low point. Buyers are coming back and listings are coming back.” —Suzanne BlakeNortheast unlikely to see spike despite reopening, Dr. Scott Gottlieb saysScott Gottlieb, former Commissioner of the FDAAdam Jeffery | CNBC10:34 a.m. ET — With New York City moving its next phase of reopening, former Food and Drug Administration Commissioner Dr. Scott Gottlieb says the city and region are unlikely to see a major spike in new cases.Some states mostly in the South and West that reopened early — before they had driven spread down to a contained level and before they had the necessary testing and tracing infrastructure in place — have seen major resurgences in infection over the past couple of weeks.”We’ll see an increase in cases, but we’re reopening against a much different backdrop,” Gottlieb said on “Squawk Box.” “So I wouldn’t expect to see the big increases that they’re seeing in the Southeast and the South here when we reopen.”Gottlieb said that because so many people were initially infected in New York City and the tri-state region, a large portion of the population likely has some level of immunity against the virus already. That will help limit spread, Gottlieb added. —William FeuerDisclosure: Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer, genetic-testing start-up Tempus and biotech company Illumina.Minnesota Timberwolves want to increase social awareness with NBA jersey patch opening10:27 a.m. ET — The Minnesota Timberwolves’ season is officially ended, and the team is now looking to turn the page on the 2019-20 season, and the transition will include a change to the team jerseys. The Timberwolves’ NBA jersey patch partnership with tech company Fitbit has expired, and the team is looking to add a new corporate sponsor that aligns with its renewed mission of combating racism and social inequality.Timberwolves COO Ryan Tanke told CNBC the club is seeking a company that will help “create impact in our community” and “be a champion for social advancement” as the Minnesota community continues to heal following the death of George Floyd.The Timberwolves have been one of the most hit organizations throughout the sports industry since March 12, when sports halted due to Covid-19. Timberwolves star center Karl-Anthony Towns’ mother, Jacqueline, died on April 13 due to Covid-19. Tanke said both events are “critically important,” adding Floyd’s murder “unlocked for us this chance to be a vocal leader with Minneapolis being the epicenter of this.” —Jabari YoungGilead to test easier-to-administer form of coronavirus drug10:17 a.m. ET — Gilead Sciences announced it is looking to test an inhaled version of remdesivir, the antiviral drug that has shown to be modestly beneficial for people hospitalized with Covid-19.Remdesivir is administered intravenously. The company told investors earlier this year that it was looking to develop easier-to-administer versions of the drug, including an inhaled version. It will administer the drug through a nebulizer, a delivery device that can turn liquid medicines into mist. The drug can’t be administered in pill form because its chemical makeup would impact the liver, the company noted.The company will screen healthy volunteers this week for the early-stage trial and hope to begin studies in patients with Covid-19 in August. —Berkeley Lovelace, Jr.Grocery stores look to robots, salad kiosks and more to revive prepared foodTexas grocer Central Market turned salad bars and hot bars into packaged food displays during the pandemic.Source: Central Market8:53 a.m. ET — The idea of sharing a serving spoon with strangers at a salad bar or hot bar has quickly fallen from favor during the pandemic, and grocers are looking for new ways to revive prepared food.At Publix, an employee in a mask and gloves dishes out each item at the former self-serve food bars. Wegmans moved hummus and olives behind the cheese counter. And at H-E-B, some coolers carry packaged entrees from local restaurants.For some companies, the decline of the salad bar has created new opportunities. California-based Chowbotics is selling its foodservice robot, which can hold up to 22 ingredients, to grocers. Restaurant franchise Saladworks recently signed a deal to open staffed salad kiosks inside of more grocery stores. —Melissa RepkoU.K. downgrades coronavirus threat level8:20 a.m. ET — Chief medical officers in the U.K. lowered the nation’s threat level around Covid-19 from “high or rising exponentially” to a benchmark of “general circulation,” Reuters reported. Health officials noted that the pandemic is far from over and that localized outbreaks are likely to continue, Reuters reported, but cited the steady decrease in Covid-19 cases in making the change.The U.K. had been under threat level four, “transmission is high or rising exponentially,” since mid-May. The U.K. is one of the hardest hit countries in the world with more than 50,000 coronavirus-related deaths, according to official data. —Alex HarringInfection found at PepsiCo China factory, spurring production suspension 8:10 a.m. — PepsiCo China is halting production at one of its factories in Beijing in the Daxing district after at least one employee tested positive for Covid-19, the company said Sunday, according to Reuters.PepsiCo China director of corporate affairs Fan Zhimin said operations halted as soon as the first case was confirmed on June 15, Reuters reports.Pang Xinghuo, a senior official for the Beijing disease control authority, said eight people at the Daxing factory tested positive, the news service said. —Suzanne BlakeSouth Korea fears it is battling ‘second wave’ South Korean soldiers wearing protective gear spray disinfectant on the street to help prevent the spread of the COVID-19 coronavirus, at a residential area in Seoul on March 9, 2020.Jung Yeon-Je | AFP | Getty Images7:26 a.m. ET — Health authorities in South Korea said for the first time on Monday that the country is experiencing a “second wave” of coronavirus infections around the capital Seoul. On Monday, the director of Korea Centers for Disease Control and Prevention Jeong Eun-kyeong said a holiday in early May marked the beginning of a “second wave” of cases in the greater Seoul area, Reuters reported. “In the metropolitan area, we believe that the first wave was from March to April as well as February to March,” Jeong said at a news briefing, according to Reuters. “Then we see that the second wave which was triggered by the May holiday has been going on.”South Korea has 12,438 confirmed cases of the virus, according to Johns Hopkins University, and has reported 280 deaths. —Holly EllyattWHO reports record single-day spike in cases globallyGravediggers carry the coffin of Avelino Fernandes Filho, 74, during his funeral who passed away from the coronavirus disease (COVID-19), in Rio de Janeiro, Brazil, May 18, 2020.Ricardo Moraes | Reuters7:21 a.m. ET — The World Health Organization on Sunday reported the largest single-day increase of coronavirus cases around the world since the virus emerged in Wuhan, China more than six months ago. The United Nations agency said more than 183,000 new cases were reported on Sunday. Brazil was the biggest contributor, reporting 54,771 new cases. The U.S. tallied 36,617 new cases. On Friday, WHO Director-General Tedros Adhanom Ghebreyesus warned that the pandemic has entered a “new and dangerous phase,” as the spread of the virus continues to accelerate in new communities and resurge in some that had already been hit hard.”Many people are understandably fed up with being at home. Countries are understandably eager to open up their societies and economies,” he said. “But the virus is still spreading fast. It is still deadly and most people are still susceptible.” The coronavirus has now infected more than 8,970,977 people around the world and killed at least 468,589 people, according to data from Johns Hopkins University. —Will Feuer


Source link