As the global death of Covid-19 nears 400,000, U.S. health officials are keeping a close eye on caseloads and hospitalization rates as states continue to relax their lockdown measures and reopen different types of businesses.
U.S. cases have been climbing since Memorial Day, but New York City this week reached an optimistic milestone: on Friday, the city, the epicenter of the U.S. outbreak, reported zero coronavirus death for the day. That hasn’t happened since March. NYC is slated to move into its first phase of reopening on Monday.
Still, the virus continues to spread quickly in parts of Latin America and Eastern Europe, according to the World Health Organization. Brazil’s caseload and death rate are particularly stark, even as Reuters reports that President Jair Bolsonaro threatened to pull his country out of the WHO.
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 6.76 million
- Global deaths: At least 395,400
- U.S. cases: More than 1.89 million
- U.S. deaths: At least 109,000
The data above was compiled by Johns Hopkins University.
Surprising jobs report has economists talking again about a V-shaped recovery
10:45 a.m. ET — Chatter about a V-shaped recovery has reignited following a surprise report from the Bureau of Labor Statistics on Friday showing a decrease in unemployment, contrary to expectations.Jan Hatzius, chief economist at Goldman Sachs, said in a note that the report marks the “beginning of the labor market recovery,” while Tom Porcelli, chief U.S. economist at RBC Capital Markets, called May’s job gains “only the beginning.”
Still, experts say there’s a long road ahead. The 2.5 million jobs gained in May represent only a small portion of the jobs lost in March and April, and varying levels of social distancing restrictions remain in place around the country. Scott Clemons, chief investment strategist at Brown Brothers Harriman, said the recent rally in stocks was the market anticipating a recovery in activity. “That seems to be coming more quickly than what anybody anticipated,” he said. — Tucker Higgins
Post-pandemic, you might find a robot doing your job
10:22 a.m. ET — During downturns, companies usually invest in automation to save on labor costs. Thanks to the coronavirus pandemic, we’ll see even more of that, according to futurist and author Ravin Jesuthasan, who’s written four books on the future of work and is a member of the World Economic Forum’s Steering Committee on Work and Employment. CNBC’s Annie Nova has the full report. — Kenneth Kiesnoski
Source: Ravin Jesuthasan
Please wait in your car until we call you
10 a.m. ET — Business owners are getting creative with their reopening strategies, trying to balance the need to protect staff and customers amid a pandemic and the desperate desire to get back to work.
From treadmills surrounded by translucent plexiglass barriers to parking lot waiting rooms, here’s what you can expect to see as America gets back to work. CNBC’s Cory Stieg has the full report. — Elisabeth Butler Cordova
How and when professional sports can come back
9:50 a.m. ET — So many sports fans are ready for some semblance of pro sports to return. CNBC’s Brian Clark and Jordan Smith explain how it might look when it happens in the video below. —Elisabeth Butler Cordova