The Trump Administration is preparing ‘Operation Warp Speed,’ a program in the style of the Manhattan Project to dramatically cut the time required to produce a coronavirus vaccine. Gilead Sciences Inc. said its experimental treatment with remdesivir helped patients recover more quickly, sending stocks higher despite economic data showing the record-long expansion in the U.S. is over.
New York recorded a fourth day of declining deaths while new hospitalizations marginally increased. Governor Andrew Cuomo said the state is ramping up testing to 30,000 a day as it tries to reopen certain regions. Florida’s governor said next week he will begin reopening parts of the state.
France and Spain have taken tentative measures to lift the restrictions. New cases rose in Germany for the first time in three days, as the government considers eliminating more curbs.
Virus Tracker: Top 3.1 million cases; deaths pass 226,000Dueling data on Gilead care leaves several questioned’s Powell warns of ‘heartbreaking damage’ to Deutsche Bank, Barclays and StanChart project pain ahead Fauci sees ‘positive news’ from Gilead drug path to easing lockdowns paved.
Florida economic trade-offs to Start Reopening Parts of State (5:11 p.m. NY)
Governor Ron DeSantis of Florida has said he expects to reopen the state on May 4. The first step would exempt counties such as Miami-Dade, Broward, and Palm Beach, the three most populated and hard-hit by the virus in the state.
Virus May Affect 57 Million U.S. Jobs: McKinsey (5 p.m. NY)
According to McKinsey & Co, the coronavirus pandemic will impact 57 million U.S. employees, more than double the number of unemployment claims up to now, if furloughs and reduced hours and wages are considered.
According to a report by the McKinsey Global Institute, the consultancy’s think tank arm, the more than 26 million people who have filed jobless claims in the past five weeks offer just a partial picture of workplace dislocations, with tens of millions more facing additional risks.