Northeast unlikely to see spike, Gottlieb says

Various states throughout the U.S. continued to report an increase in new instances over the weekend, as White Home commerce advisor Peter Navarro advised CNN’s “State of the Union” Sunday that the White Home is making ready for a possible “drawback within the fall.”

That is CNBC’s reside weblog masking all the most recent information on the coronavirus outbreak. This weblog will probably be up to date all through the day because the information breaks. 

• World instances: Greater than 8.97 million
• World deaths: A minimum of 468,589
• U.S. instances: Greater than 2.28 million
• U.S. deaths: A minimum of 119,977

The info above was compiled by Johns Hopkins College.

10:56 a.m. ET — President Donald Trump’s chief financial advisor, Larry Kudlow, stated a second wave of the coronavirus “is not coming” and he characterised reviews of recent instances in a handful of U.S. states as remoted sizzling spots.

Kudlow’s remarks to CNBC got here after the U.S. reported greater than 30,000 new infections on Friday and Saturday, the very best day by day totals since Could 1. Peter Navarro, one among Trump’s prime commerce advisors, stated Sunday that the White Home is, in reality, making ready for one more wave of the illness.

Kudlow additionally stated Monday that Home, Senate and White Home leaders will possible have one other financial stimulus package deal within the weeks following Congress’s July recess. —Thomas Franck

10:52 a.m. ET — Because the coronavirus pandemic continues to make an influence on the financial system, present house gross sales dropped 9.7% in Could from the earlier month to a seasonally adjusted annualized fee of three.91 million models, based on the Nationwide Affiliation of Realtors.

Yearly, gross sales are down 26.6%, the biggest annual decline since 1982, CNBC’s Diana Olick reviews. However realtors consider this might possible be the underside level for house gross sales because the financial system recovers.

“Effectively into the month of June, I believe individuals are rather more relaxed, understanding that there’s a large stimulus package deal within the financial system,” stated Lawrence Yun, chief economist for the Realtors. “I’m very assured that this would be the cyclical low level. Consumers are coming again and listings are coming again.” —Suzanne Blake

10:34 a.m. ET — With New York Metropolis transferring its subsequent section of reopening, former Meals and Drug Administration Commissioner Dr. Scott Gottlieb says town and area are unlikely to see a significant spike in new instances.

Some states largely within the South and West that reopened early — earlier than they’d pushed unfold right down to a contained stage and earlier than they’d the required testing and tracing infrastructure in place — have seen main resurgences in an infection over the previous couple of weeks.

“We’ll see a rise in instances, however we’re reopening towards a a lot totally different backdrop,” Gottlieb stated on “Squawk Field.” “So I would not anticipate to see the large will increase that they are seeing within the Southeast and the South right here once we reopen.”

Gottlieb stated that as a result of so many individuals had been initially contaminated in New York Metropolis and the tri-state area, a big portion of the inhabitants possible has some stage of immunity towards the virus already. That may assist restrict unfold, Gottlieb added. —William Feuer

Disclosure: Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer, genetic-testing start-up Tempus and biotech firm Illumina.

10:27 a.m. ET — The Minnesota Timberwolves’ season is formally ended, and the staff is now trying to flip the web page on the 2019-20 season, and the transition will embrace a change to the staff jerseys. The Timberwolves’ NBA jersey patch partnership with tech firm Fitbit has expired, and the staff is trying so as to add a brand new company sponsor that aligns with its renewed mission of combating racism and social inequality.

Timberwolves COO Ryan Tanke advised CNBC the membership is looking for an organization that can assist “create influence in our neighborhood” and “be a champion for social development” because the Minnesota neighborhood continues to heal following the dying of George Floyd.

The Timberwolves have been one of the hit organizations all through the sports activities business since March 12, when sports activities halted as a consequence of Covid-19. Timberwolves star heart Karl-Anthony Cities’ mom, Jacqueline, died on April 13 as a consequence of Covid-19. Tanke stated each occasions are “critically essential,” including Floyd’s homicide “unlocked for us this opportunity to be a vocal chief with Minneapolis being the epicenter of this.” —Jabari Younger

10:17 a.m. ET — Gilead Sciences introduced it’s trying to take a look at an inhaled model of remdesivir, the antiviral drug that has proven to be modestly useful for individuals hospitalized with Covid-19.

Remdesivir is run intravenously. The corporate advised traders earlier this 12 months that it was trying to develop easier-to-administer variations of the drug, together with an inhaled model. It can administer the drug by a nebulizer, a supply machine that may flip liquid medicines into mist. The drug cannot be administered in tablet type as a result of its chemical make-up would influence the liver, the corporate famous.

The corporate will display screen wholesome volunteers this week for the early-stage trial and hope to start research in sufferers with Covid-19 in August. —Berkeley Lovelace, Jr.

8:53 a.m. ET — The concept of sharing a serving spoon with strangers at a salad bar or sizzling bar has shortly fallen from favor in the course of the pandemic, and grocers are on the lookout for new methods to revive ready meals.

At Publix, an worker in a masks and gloves dishes out every merchandise on the former self-serve meals bars. Wegmans moved hummus and olives behind the cheese counter. And at H-E-B, some coolers carry packaged entrees from native eating places.

For some firms, the decline of the salad bar has created new alternatives. California-based Chowbotics is promoting its foodservice robotic, which might maintain as much as 22 substances, to grocers. Restaurant franchise Saladworks not too long ago signed a deal to open staffed salad kiosks within extra grocery shops. —Melissa Repko

8:20 a.m. ET — Chief medical officers within the U.Okay. lowered the nation’s risk stage round Covid-19 from “excessive or rising exponentially” to a benchmark of “common circulation,” Reuters reported. 

Well being officers famous that the pandemic is way from over and that localized outbreaks are more likely to proceed, Reuters reported, however cited the regular lower in Covid-19 instances in making the change.

The U.Okay. had been underneath risk stage 4, “transmission is excessive or rising exponentially,” since mid-Could. The U.Okay. is among the hardest hit nations on the earth with greater than 50,000 coronavirus-related deaths, based on official knowledge. —Alex Harring

8:10 a.m. — PepsiCo China is halting manufacturing at one among its factories in Beijing within the Daxing district after at the least one worker examined optimistic for Covid-19, the corporate stated Sunday, based on Reuters.

PepsiCo China director of company affairs Fan Zhimin stated operations halted as quickly as the primary case was confirmed on June 15, Reuters reviews.

Pang Xinghuo, a senior official for the Beijing illness management authority, stated eight individuals on the Daxing manufacturing unit examined optimistic, the information service stated. —Suzanne Blake

7:26 a.m. ET — Well being authorities in South Korea stated for the primary time on Monday that the nation is experiencing a “second wave” of coronavirus infections across the capital Seoul. 

On Monday, the director of Korea Facilities for Illness Management and Prevention Jeong Eun-kyeong stated a vacation in early Could marked the start of a “second wave” of instances within the higher Seoul space, Reuters reported. 

“Within the metropolitan space, we consider that the primary wave was from March to April in addition to February to March,” Jeong stated at a information briefing, based on Reuters. “Then we see that the second wave which was triggered by the Could vacation has been occurring.”

South Korea has 12,438 confirmed instances of the virus, based on Johns Hopkins College, and has reported 280 deaths. —Holly Ellyatt

7:21 a.m. ET — The World Well being Group on Sunday reported the biggest single-day enhance of coronavirus instances all over the world because the virus emerged in Wuhan, China greater than six months in the past. 

The United Nations company stated greater than 183,000 new instances had been reported on Sunday. Brazil was the most important contributor, reporting 54,771 new instances. The U.S. tallied 36,617 new instances. 

On Friday, WHO Director-Normal Tedros Adhanom Ghebreyesus warned that the pandemic has entered a “new and harmful section,” because the unfold of the virus continues to speed up in new communities and resurge in some that had already been hit exhausting.

“Many individuals are understandably fed up with being at house. Nations are understandably desperate to open up their societies and economies,” he stated. “However the virus remains to be spreading quick. It’s nonetheless lethal and most of the people are nonetheless inclined.” 

The coronavirus has now contaminated greater than 8,970,977 individuals all over the world and killed at the least 468,589 individuals, based on knowledge from Johns Hopkins College. —Will Feuer