Public health professionals are reviving talks about a possible vaccine against Covid-19 as mass protests continue in many U.S. cities after the death of George Floyd, who was subjected to the police.
The White House Health Advisor, Dr. Anthony Fauci said Tuesday that he was concerned about the “shelf life” of a potential coronavirus vaccine, adding that there was a possibility that it would not offer long-term immunity. And the former Commissioner of the Food and Drug Administration, Dr. Scott Gottlieb told CNBC on Wednesday that any effective vaccine is likely to be seasonal.
This is CNBC̵
- Global cases: More than 6.44 million
- Worldwide deaths: At least 382,451
- US cases: More than 1.84 million
- Deaths in the U.S.: At least 106,694
The above data has been compiled by Johns Hopkins University.
Congress sends Trump a bill to change PPP loans
Chairman Ron Johnson (R-WI) speaks at a hearing by the Senate Homeland Security Committee on the government’s response to the novel coronavirus (COVID-19) outbreak on March 5, 2020 in Washington, DC.
Samuel Corum | Getty Images
7:30 p.m. ET – The Senate passed a law on Wednesday to give beneficiaries of small business loans more flexibility to use aid during the coronavirus pandemic.
It approved the House’s legislation after Senator Ron Johnson, R-Wisc., Blocked an earlier attempt to clarify the measure. The bill now goes to President Donald Trump’s desk.
It reduces the percentage of credit money that small business payroll needs to pay to get the loan from 75% to 60%. Recipients have six months to use the money instead of two. Among other things, it extends the deadline of June 30 to reinstate employees. – –Jacob Pramuk
Malaria drug does not protect people from the virus, study results
A pharmacy technician pours tablets of hydroxychloroquine on May 20, 2020 at the Rock Canyon pharmacy in Provo, Utah.
George Frey | AFP | Getty Images
5:00 PM ET – Hydroxychloroquine does not prevent coronavirus infection, as published in the New England Journal of Medicine.
The study, led by Dr. David Boulware, an infectious disease researcher at the University of Minnesota, examined 821 people who were exposed to the virus. About 12% of people given the malaria drug developed Covid-19, compared to 14% who did not receive the drug, according to the study results. The study is the first randomized, placebo-controlled study to be considered the “gold standard” in science. – –
The White House doctor says Trump has had no side effects after taking hydroxychloroquine
4:31 p.m. ET – A White House doctor said President Donald Trump had completed treatment with the hydroxychloroquine malaria drug “without side effects.”
Trump, who announced last month that he was taking the drug to protect himself from coronavirus infection, has safely ended his two-week regime, the White House doctor said. Sean Conley, in a report on the President’s third physical exam during his tenure.
There is little clear evidence that hydroxychloroquine works either as an effective prophylaxis or as a treatment for the coronavirus, although Trump has repeatedly pointed out its potential.
The president “stays healthy,” Conley concluded in his report, which covered Trump’s physical exams between November and April. Kevin Breuninger
Delta Caps aircraft capacity at 60% through September
3:40 p.m. ET – Delta Air Lines is extending a policy to ensure that planes are no more than 60% full by September. This is said to calm the nerves of travelers about packed flights during the coronavirus pandemic. The airline had previously expected to end the policy on June 30.
Photos of packed airplanes are widespread on social media because passengers were on surprisingly crowded flights. Though airlines say packed airplanes are rare. Delta said it would use larger planes or add more flights if demand was high.
United and American have set up programs to notify travelers when their aircraft is booked above certain capacity thresholds and to allow passengers to switch to other flights without paying a fee.
JetBlue and Southwest also limit the number of seats they can provide for each flight until July 6th and 31st, respectively. – –Leslie Josephs
Walmart says that despite the increase in work from home, office space is still needed
3:12 p.m. ET – Many Americans may be working from kitchen tables and home offices during the coronavirus pandemic, but Walmart executives believe office space will continue to have a place.
The retail giant is building a new headquarters in its hometown of Bentonville, Arkansas. It will span more than 300 hectares and offer amenities such as a fitness center, hiking trails, and a childcare facility.
During the company’s annual general meeting, which was held virtually, Walmart executives asked whether the pandemic – and the increase in work from home – will change their plans.
Dan Bartlett, executive vice president of corporate affairs for the company, said flexible office design is already planned. He said it takes into account the development of work habits during the architectural phase of the project. CEO Doug McMillon added that offices remain important even when employees are productive at home.
“As this crisis continued, we noticed things we were missing,” he said. For example, he said it was difficult to recruit new employees, introduce them to people, and integrate them into the corporate culture. – Melissa Repko
According to the WHO, the virus has not yet mutated significantly
Maria Van Kerkhove, head of the Department of Emerging Diseases and Zoonosis at the World Health Organization, speaks during a press conference after a meeting of the Emergency Committee on the new coronavirus on January 22, 2020 in Geneva.
Pierre Albouy | AFP | Getty Images
2:21 p.m. ET – The coronavirus has not mutated in a way that would significantly change the spread of people or the cause of death, according to representatives from the World Health Organization.
Scientists and virologists collect samples of the virus from around the world and compare the genetic sequence found in each sample to determine if it is developing, according to the WHO. Scientists have so far found only “normal changes” to the virus, said Dr. Maria Van Kerkhove, head of the Department of Emerging Diseases and Zoonosis at WHO.
“To my knowledge, we have so far seen no particular signal in the behavior or order of the virus that would lead us to believe that the virus changes in its nature, in its transmission dynamics, or in its lethality,” said Dr. Mike Ryan, Executive Director of the WHO Emergency Program. – Want fire
Pandemic provides an opportunity for a more sustainable economy, says Prince Charles
1:33 PM ET – Prince Charles of Britain said the coronavirus pandemic is a rare opportunity to build a more sustainable economy.
“We have a unique opportunity to get something good out of this crisis. The unprecedented shock waves could make people more receptive to great visions of change,” said the Prince of Wales at a World Economic Forum event.
Prince Charles outlined five ways the economy can recover from the coronavirus crisis, while addressing the issue of climate change, including sustainable employment and a transition to net CO2 emissions.
He also said that the Covid 19 crisis showed that science, technology and innovation needed to be invested in and that the global economy needed to drive sustainable investments for both economic growth and employment. Read more about the speech by Prince Charles of Chloe Taylor from CNBC. – Susanne Blake
Coronavirus affects black voters more and worries about the pandemic than others: CNBC / Change Research survey
1:16 PM ET – Black voters in six swing states have hit the coronavirus harder than other race groups, and they have more concerns about the upcoming pandemic, according to a new CNBC / Change Research poll.
According to the survey, a larger proportion of black respondents were diagnosed with Covid-19 than among Hispanic or white voters, or they know someone who has done so. A higher percentage of black voters (42%) than Hispanic (37%) or white (29%) respondents said that they or a member of their household has lost their job or is on vacation.
The CNBC / Change Research poll polled 3,958 likely voters in Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin from Friday to Sunday with an error rate of plus or minus 1.6 percentage points.
A larger proportion of black voters than Spanish or white respondents said they were worried that they themselves or a family member would get sick, that the US economy would reopen early, or that job security and health care costs would increase next year.
The survey, which highlights the disproportionate burden on black Americans from the pandemic, was conducted during a week of nationwide protests against systemic racism after a series of police kills of black men and women. – Jacob Pramuk
The study on Trump-based drugs continues, the WHO says
The drug, hydroxychloroquine, suggested in the past few months by U.S. President Donald Trump and others as a possible treatment for people infected with coronavirus disease (COVID-19), will be on May 27, 2020 at the Rock Canyon pharmacy in Provo , Utah.
George Frey | Reuters
Military families are in the middle of Covid-19
1:03 p.m. ET – They serve their country at home and abroad. Thanks to corona virus bans and stop movement orders, many members of the armed forces and their families, who have moved between bases and set up new homes, have to make two payments for both their old and new excavations.
CNBC Senior Personal Finance correspondent Sharon Epperson talks to such a family in the air and examines what help is for them and others like them out there. – Kenneth Kiesnoski
Trump bans Chinese airlines from flying to the United States
12:51 p.m. ET – The Trump administration will ban Chinese passenger airlines from scheduled flights to the US this month as a dispute between the governments of the two largest aviation markets escalates.
US airlines discontinued flights to China earlier this year after demand for the corona virus fell. Delta and United have tried to return, but Chinese officials have not yet allowed them to do so. As a retaliatory measure, the U.S. will no longer allow passenger airlines to operate flights between the two countries from June 16.
“Our overarching goal is not to maintain this situation, but to improve the environment in which both parties’ airlines can exercise their bilateral rights fully,” said the U.S. Department of Transportation command. “Should the [Chinese aviation authority] The Department is adapting its policies to bring about the necessary improvement in the situation for US airlines. It is fully prepared to review the measures announced in this order. “
The measure affects Air China, China Eastern, China Southern and Xiamen. The airlines did not respond immediately. – Leslie Josephs
The latest in virus reopening and distribution
Invoice to request refund for all canceled flights that are unlikely to become law
Flight attendants speak in an almost empty cabin on a Delta Airlines flight operated by SkyWest Airlines as travel costs decreased during a flight from Salt Lake City, Utah on April 11, 2020 due to concerns about coronavirus disease (COVID-19) are.
Jim Urquhart | Reuters
Real estate deals in Manhattan are falling amid pandemics and protests
12:37 PM ET – The Manhattan real estate market continues to fight the corona virus and now faces the additional challenge of widespread protests in response to George Floyd’s death in police custody.
According to UrbanDigs, only 160 real estate contracts for Manhattan apartments were signed in May, a 84% decrease from the previous year. According to CNBC’s Robert Frank, new registrations were also down 71% compared to May 2019. The top end of Manhattan real estate, which includes expensive apartment towers and penthouses, is hardest hit. – Hannah Miller
The corona virus crisis could have a lasting impact on the gender pay gap
12 p.m. ET – Even if millions of Americans now work from home, the wage gap between parents persists and could likely worsen due to Covid-19.
According to a new analysis of the census data by the National Women’s Law Center, mothers already receive only 70 cents for every dollar paid to fathers, which is a loss of $ 18,000 a year.
In the future, the gender pay gap could widen as women reduce their childcare work disproportionately, as childcare options are still limited. – –Jessica Dickler
With soup sales increasing due to the pandemic, Campbell Soup expects demand to continue to grow
12 p.m. ET – After selling the legendary Campbell Soup broths and increasing 35% in the third quarter of the fiscal year, the company expects demand to continue to grow, even as the weather warms and states reopen.
Mark Clouse, Campbell’s CEO, told Squawk on the Street that retailers need to replenish their inventory, which will increase demand even if consumers buy fewer of these products.
Still, Clouse said he expects consumers to continue eating more soup and other Campbell products than the historical comparison. The pandemic reversed consumer preference for fresher food options and revived sales for categories that had been declining in recent years.
The company’s shares fell nearly 5% in morning trading, although the 2020 outlook was raised and analysts’ earnings estimates exceeded. – –Amelia Lucas
Reopening and protests could lead to a bad fall season
A doctor holds up a mask that says “Black Lives Matter” during a rally against George Floyd’s murder in Foley Square on May 29, 2020 in New York City. Demonstrations take place in the United States after George Floyd died in police custody on May 25.
Kevin Mazur | Getty Images
11:25 AM ET – With nationwide protests against George Floyd’s death and easing of restrictions across the country, public health specialists are warning that Covid-19 is getting back on its feet later this year.
Some other countries affected by the virus, such as Germany and Italy, have reduced the number of new infections every day to just hundreds per day. The United States has sought to do the same with more than 20,000 newly diagnosed cases every day.
If this number does not decrease, the country could again have a hard time breaking out in the fall, public health professionals who spoke to CNBC said, adding that the protests would likely spread the virus.
“It’s heartbreaking at a number of levels, certainly due to infectious diseases and epidemiology,” said Dr. Katie Passaretti. “They have large groups that come together and people from faraway places that come together. It’s a risk of Covid’s spread.” – –Want fire
The Mayor of NYC says the curfew will end when the first phase of the coronavirus reopening plan begins
Mayor Bill de Blasio speaks to the media after he and First Lady Chirlane McCray donated blood during the COVID-19 pandemic at New York Blood Center on 67th Street.
Lev Radin | Pacific Press | Getty Images
11:15 p.m. ET – New York City Mayor Bill de Blasio said a 8:00 p.m. The curfew that was imposed during the heated protests against George Floyd’s death is scheduled to be lifted Monday morning when the city begins the first phase of its corona virus reopening plan initiates.
“We will end it immediately … The curfew comes at 5am Monday morning,” said de Blasio at a press conference on Wednesday. “I want us to never have to use it again if we can do things right, and then we go straight to the reopening.”
The first phase of the plan to lift restrictions on social distance includes construction, manufacturing, wholesale, and retail businesses that can provide roadside pick-up services.
“The New Yorkers are resourceful. I am very confident that people are ready,” said the mayor. He apologized to all companies dealing with the “additional challenge” of repairing their businesses after the violence and property destruction that took place during the protests last week. – –Kevin Breuninger
AMC has “significant doubts” that it will be able to stay in business after all locations are closed during the pandemic
In front of the AMC Montebello there are signs saying “Theater closed” as the US chain of AMC cinemas is closed for 6 to 12 weeks. On March 17, 2020 in Montebello, California, the Coronavirus epidemic (Covid-19) led to restaurant and school closings and workers working from home to promote social detachment.
Frederic J. Brown | AFP | Getty Images
11:10 AM ET – AMC, the largest cinema chain in the world, raised concerns about its liquidity and ability to generate income after the coronavirus outbreak.
AMC announced preliminary earnings results after losing $ 2.1 billion to $ 2.4 billion in the first quarter ended March 31, while the theaters were closed due to social distance regulations. Losses are expected to increase even more in the second quarter.
“We are effectively not generating any revenue,” the company said in its filing.
AMC also said it was concerned that distributors would continue to push back new film releases, either due to corona virus restrictions at public gatherings or due to production delays, and that some studios would offer more films on-demand or through streaming. – –Sarah Whitten
The PMI for US services is better than expected
10:26 am ET – The Supply Management Institute (ISM) announced that its manufacturing index rose from 41.8 in April to 45.4 in the past month. Economists surveyed by Dow Jones expected 44.4 in May. The April number was the first decline in the US services sector since December 2009, when the coronavirus pandemic rocked the economy. – –Yun Li
Dow jumps 200 points outdoors and climbs up for a third day
9:40 a.m. ET – Shares rose, and the Dow Jones Industrial Average rose 230 points, a third consecutive day, despite uncertainty over the days of the demonstrations, against George Floyd’s murder and the ongoing corona virus Protesting crisis. The S&P 500 rose 0.7%, the Nasdaq Composite 0.4%. The Nasdaq 100 index rebounded strongly from its low in March and was now less than 1% from its record high. – –Yun Li
According to the CEO, J&J is investigating the effects of viruses on black communities
9:26 am ET – Johnson & Johnson CEO Alex Gorsky said the company is investigating the coronavirus’ disproportionate effects on black communities.
“What is the underlying nature? What can we do better to ensure that your zip code no longer contributes to your life expectancy, frankly, to other health issues,” he told CNBC.
J&J has been working on a potential Covid-19 vaccine that infected over 1.83 million people in the United States, according to Johns Hopkins University. The company believes that its experimental human vaccine will begin testing in September and may be available for emergency approval in early 2021. –Berkeley Lovelace, Jr.
New cases in Africa continue to increase
The vaccine will be “seasonal,” says Dr. Scott Gottlieb
7:32 am ET – Any coronavirus vaccine that is found to be safe and effective will likely only offer immunity for a limited time, possibly “up to a year,” said former Food and Drug Administration commissioner Dr. Scott Gottlieb.
His comments come after the White House health advisor, Dr. Anthony Fauci, on Tuesday, said he was concerned about the “shelf life” of a potential coronavirus vaccine and said there was a possibility that he would not offer long-term immunity.
“This will likely be a seasonal vaccine,” said Gottlieb in an interview with CNBC’s Squawk Box. “It’s probably a vaccine that we have to take every year. Dr. Fauci is right, the long-term immunity won’t be in the form of a smallpox or polio vaccine, once you get the vaccine and you’re for the rest of yours Life or protected most of your life. “
Finally, people could be asked to take the coronavirus vaccine along with the flu vaccine annually, Gottlieb said. – Want fire
Disclosure: Scott Gottlieb is a CNBC employee and a member of the boards of Pfizer and the biotech company Illumina.
Sweden “could have done better” to fight the outbreak, the chief epidemiologist admits
People enjoy themselves in an outdoor restaurant on April 20, 2020 amid the outbreak of Coronavirus disease (COVID-19) in central Stockholm, Sweden.
7:02 AM ET – Sweden’s chief epidemiologist, who advocated a no-lockdown strategy to combat the coronavirus crisis, admitted that more would have to be done to combat the epidemic.
“Yes, I think we could have done better than in Sweden,” said Anders Tegnell, state epidemiologist at the Swedish Health Service, according to a Reuters report to Swedish radio.
“If we encountered the same disease and knew exactly what we know about it today, we would probably do something between what Sweden did and what the rest of the world did,” he said.
Unlike most of Europe, Sweden opted to completely block businesses and schools when the corona virus spread across Europe in March, and instead opted for softer, largely voluntary measures. – –Holly Ellyatt
Spain’s eyes open again for tourism June 22nd
Participants run in front of Fuente Ymbro’s bulls during the fourth “Encierro” (bull run) of the San Fermin Festival in Pamplona, northern Spain, on July 10, 2015.
Miguel Riopa | AFP | Getty Images