The number of confirmed cases of the coronavirus around the world has now topped 8 million as the World Health Organization continues to warn that while the virus has slowed in parts of Europe it is gaining speed in other parts of the world, including parts of Africa and the Americas. More than 100,000 new cases are reported globally every day, the WHO said Monday, and U.S. states that have reopened continue to see new cases climb.
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 8.06 million
- Global deaths: At least 437,532
- U.S. cases: More than 2.11 million
- U.S. deaths: At least 116,127
The data above was compiled by Johns Hopkins University.
Some Americans will get vaccine for free, officials say
12:28 p.m. ET — Americans who can’t afford the vaccine to prevent Covid-19 will get it for free, Trump administration officials announced.
Some commercial insurers have also expressed “eagerness” to cover the vaccine without a co-pay, a senior administration official told reporters during a press briefing, meaning those with insurance may also not have to pay anything out of pocket.
U.S. health officials and researchers have been fast-tracking work on vaccine development, aiming to produce 300 million doses of a potential vaccine by January. Because of the pandemic, U.S. officials are investing in multiple stages of research even though doing so could be for naught if the vaccine ends up not being effective or safe. —Berkeley Lovelace Jr.
Former FDA chief Gottlieb says new steroid treatment could have ‘immediate impact’
11:40 a.m. ET — Dexamethasone, a cheap and widely available steroid, could have an “immediate impact” on how doctors treat Covid-19 patients, former Food and Drug Administration Commissioner Dr. Scott Gottlieb said.
A new study found the drug to effectively improve survival among severely sick Covid-19 patients.
“It’s going to probably have an immediate impact on what doctors are doing in the ICU setting,” Gottlieb said on CNBC’s “Squawk Box” in response to the news. “This is an important finding. It’s going to change dogma.”
The researchers of the study said it is the first drug to appear to improve survival among Covid-19 patients. There are still no treatments approved by the FDA to treat the disease, though Gilead’s remdesivir has received an emergency use authorization. —Will Feuer
Tenet Healthcare says new virus spikes are manageable
A medical worker puts a sample for COVID-19 antibody testing into a test tube.
Gavriil Grigorov | TASS via Getty Images
11:23 a.m. ET — Tenet Healthcare says the spike in Covid-19 cases in states like Arizona is not impeding the rebound in elective surgery at its hospitals, which are back to 95% of pre-coranvirus levels this month.
“We’re busy with Covid, but we’re not overwhelmed…. and we’ve put a lot of focus on really insuring Covid care zones are being separated from coded safe zones, and communicating that actively into the community and to the physician community, in particular, so they feel comfortable,” said Tenet COO Saum Sutaria on an update call with analysts.
Sutaria noted that new Covid-19 patients in markets where cases are rising tend to be younger, in their mid-30s to mid-60s, and require less intensive care treatment.
Tenet shares rose nearly 6% in opening trade but gave up those gains late morning. —Bertha Coombs
Homebuilder sentiment surges, showing a rebound from lockdown
11:06 a.m. ET — Homebuyer demand is up following a sudden drop at the beginning of the Covid-19 pandemic, CNBC’s Diana Olick reports.
Homebuilder sentiment went up 21 points in June to 58, the biggest monthly increase ever in the National Association of Home Builders/Wells Fargo Housing Market Index. Readings above 50 indicate a positive market.
In April, the reading diminished 42 points to 30. Under the homebuilder index’s three elements, current sales conditions rose 21 points to 63 in June meanwhile sales expectations rose 22 points to 68. Buyer traffic went up from 22 to 43.
“As the nation reopens, housing is well-positioned to lead the economy forward,” said NAHB Chairman Dean Mon, a homebuilder and developer from Shrewsbury, New Jersey. “Inventory is tight, mortgage applications are increasing, interest rates are low and confidence is rising.” —Suzanne Blake
One in five people worldwide is at risk of developing ‘severe’ cases of Covid-19, scientists claim
Doctors wearing face masks and gloves as a preventive measure attend to a coronavirus patient at the intensive care unit of Albert Schweitzer Hospital.
Robin Utrecht | SOPA Images | LightRocket via Getty Images
9:50 a.m. ET — One in five people worldwide is at risk of developing severe cases of Covid-19, scientists have estimated.
A team of researchers from the U.S., the U.K. and China estimated that 1.7 billion people — or 22% of the global population — are at “increased risk” of developing severe symptoms if infected with the coronavirus.
People were considered to be at increased risk if they had one or more chronic health conditions associated with greater vulnerability to the virus, such as diabetes or cardiovascular disease.
In North America, 28% of the population, or 104 million people, had at least one underlying condition that put them at increased risk of developing severe Covid-19 if they caught the virus, according to the study. —Chloe Taylor
Steroid dexamethasone reduces deaths from severe Covid-19, trial shows
9:41 a.m. ET — Treating Covid-19 patients with the generic steroid dexamethasone cut death rates by about a third for those with the most serious cases of the virus, according to data from a UK-led clinical trial.
Scientists have called the results a “major breakthrough” and the study’s researchers said the generic drug should become standard care in hospitalized coronavirus patients, Reuters reports.
There are currently no approved vaccines or treatments for the coronavirus. —Hannah Miller, Reuters
CNBC Disruptor 50 list features companies focused on coronavirus economy
9:22 a.m. ET — This year’s CNBC Disruptor 50 list includes at least 18 companies that say demand for their core products has more than doubled since the coronavirus crisis unleashed itself across the world. That’s because many use artificial intelligence and machine learning, which are speeding the development of medical treatments to fight the virus.
Others are in the health-technology field supporting at-home testing, such as Healthy.io, which provides FDA-approved remote urinalysis, and Heal, a six-year-old start-up that provides at-home doctor visits through telemedicine.
C3.ai, a company that is so defined by artificial intelligence that it changed its name from C3 IoT a few years ago, has taken a leading role in using the technology to fight Covid-19.
The three-time Disruptor 50 company teamed up with Amazon Web Services in April to create a Covid-19 “data lake,” which unifies data sets, updates them in real-time and offers researchers a clearer starting point for generating usable insights.
Tempus built a drug discovery-and-development platform designed to be disease-agnostic. So when the pandemic hit, it was in a strong position to pivot and support efforts to slow the spread and to find short-term and long-term treatments.
Tempus brought a test to market in April and launched a research project examining 50,000 coronavirus-positive patients to find the most effective treatments and other insights. —Lori Ioannou
AstraZeneca’s Covid-19 vaccine protects for one year, CEO says
AstraZeneca’s building in Luton, Britain.
Tim Ireland | Xinhua News Agency | Getty Images
8:58 a.m. ET — AstraZeneca‘s coronavirus vaccine would provide protection from contracting Covid-19 for around one year, CEO Pascal Soriot told Belgian radio station Bel RTL Tuesday.
The company has contracts with France, Germany, Italy, the Netherlands, the U.S. and Britain to provide doses of the vaccine, Reuters reported.
Soriot said the vaccine could be ready, beginning October, “if all goes well.”
Soriot told the station, in an interview curated by Reuters, that the company has already begun a phase III trial and has a phase I trial ending soon. —Alex Harring
Coronavirus could usher in cashless casinos
Guests play roulette at Excalibur Hotel & Casino after the Las Vegas Strip property opened for the first time since being closed in mid-March because of the coronavirus (COVID-19) pandemic on June 11, 2020 in Las Vegas, Nevada.
Ethan Miller | Getty Images
8:32 a.m. ET — Concerns around Covid-19 could soon usher in cashless payment technologies ato Nevada casinos, with the Centers for Disease Control and Prevention recommending “tap-and-pay to limit handling of cash” to decrease the spread of the virus.
A hearing on cashless payments will be held for Nevada gaming regulators on June 25, CNBC’s Contessa Brewer reports.
Sightline Payments founder and CEO Kirk Sanford said contactless payments may even replace the chips at casino tables. While some say digital payments increase the risk of problem gambling, others see the benefit in increased hygienic practices in fighting the virus as well as the possibility to attract a younger generation of customers.
“Any customers uneasy about using cash on the gaming floor due to health or safety concerns should have an alternate payment option available to them,” the gaming industry’s trade group said. —Suzanne Blake
Ad spending decline won’t be as steep this year as it was in 2009 financial crisis, GroupM forecasts
McDonald’s U.S. same-store sales fell just 5.1% in May
8:21 a.m. ET — McDonald’s U.S. customers are coming back to restaurants for their Big Macs and fries.
In May, the fast-food chain’s U.S. same-store sales fell just 5.1%. That’s in comparison with a 19.2% plunge in April, its steepest monthly drop during the pandemic.
Roughly 7% of McDonald’s U.S. locations have reopened with reduced seating capacity, and only about 100 restaurants in the country remain closed entirely.
But outside of the U.S., widespread temporary closures shuttered even drive-thru and delivery service, leading same-store sales of its two international segments to plunge. As of Monday, 90% of its international restaurants are operating again. —Amelia Lucas
The latest on U.S. hot spots
Sanofi to invest more than $670 million in vaccine research centers
The logo of Sanofi is seen at the company’s research and production centre in Vitry-sur-Seine, France, August 6, 2019.
Charles Platiau | Reuters
7:21 a.m. ET — French drugmaker Sanofi will invest $679.4 million in two French facilities to turn them into a “state-of-the-art vaccine production” site and a new vaccine research center, the company announced.
Sanofi said the investment was made possible by “close collaboration with French authorities” over the past few months and will help the company respond quickly to any future pandemic viruses.
“Sanofi is a major healthcare player in France, in Europe, and worldwide,” Sanofi CEO Paul Hudson said. It is our responsibility to focus our resources and expertise against the current pandemic, but also to invest in preparing for future ones.”
German demand for potatoes down amid pandemic
A customer stands beside a chilled meat cabinet inside a Rewe supermarket, operated by the Rewe Group, in Berlin, Germany.
Krisztian Bocsi | Bloomberg | Getty Images
6:56 a.m. ET — The pandemic has hit German demand for potatoes and related products hard with around several 100,000 tons of products going to waste, the German Association of the Fruit, Vegetable and Potato Processing Industry (BOGK) said. It also called for the German government, and consumers, to support the potato market.
“Due to the catastrophic drop in sales of frozen, chilled and dry potato products, mainly in the areas of gastronomy, canteen supplies, consumption at major events and in exports, several 100,000 tons of processed potatoes could not be used not only in Europe but also in Germany,” the BOGK said.
“The consequences are serious,” Horst-Peter Karos, managing director of the association said. “The damage for this goes into the millions. A significant improvement in the situation is also not foreseeable in the medium term,” he added.
The association is asking both retailers and consumers “for a completely new appreciation for potatoes and potato products made from them. Retailers should therefore expand and promote the range of potato products overall.” It also asked for more government support for the potato processing industry. —Holly Ellyatt
Read CNBC’s previous coronavirus live coverage here: China reports 40 new cases as Beijing cluster grows, San Francisco moves further into reopening