This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks.
- Global cases: More than 1,870,000
- Global deaths: At least 116,052
- US cases: More than 558,526
- US deaths: At least 22,146
The data above was compiled by Johns Hopkins University.
11:39 am: Some small businesses are starting to get rescue funds, but payouts overall are lagging behind
Even as small businesses have applied for more than half of the $350 billion allotted for the Paycheck Protection Program — and all the funds may be spoken for this week — the amount actually disbursed to businesses is lagging well behind.
The “PPP,” the Trump administration’s centerpiece program to help small businesses weather the economic effects of the coronavirus, has approved 860,000 applications for $210 billion of loans through 4,500 lenders — an accomplishment praised by many bankers. But moving from application to disbursal has proven to be another challenge that bankers said has been hampered by a lack of clarity from the Treasury Department and the Small Business Administration, and the need first to use bank personnel to process applications before closing loans.
“Banks are absolutely beginning to fund and you’re going to see those numbers grow dramatically,” said Rob Nichols, president of the American Bankers Association. Nichols added, however, “We are still seeking some areas of guidance around some of the contours of the program.” —Steve Liesman, Kate Rogers, Dawn Giel
11:27 am: ‘We’re not governments’ — Cramer says small business owners can’t front their employees forever
“How many weeks do I have to front everybody?” Cramer said on “Squawk on the Street.”
Cramer owns Bar San Miguel and co-owns The Longshoreman. Both restaurants are in Brooklyn, New York.
While saying he’s fortunate enough to be able to pay his employees in the absence of the small business loans, Cramer said the situation is different for many other entrepreneurs who have been impacted by the coronavirus pandemic.
“Most people can’t front people,” he said. “We’re not governments.” —Kevin Stankiewicz
11:08 am: US Navy sailor from coronavirus-stricken aircraft carrier dies in Guam
A U.S. Navy sailor assigned to the coronavirus-stricken USS Theodore Roosevelt aircraft carrier died Monday from the disease after testing positive last month, the service confirmed in a statement.
“At approximately 8:30 a.m., Apr. 9, the Sailor was found unresponsive during a daily medical check. While Naval Base Guam emergency responders were notified, CPR was administered by fellow Sailors and onsite medical team in the house. The Sailor was transferred to U.S. Naval Hospital Guam where the Sailor was moved to the Intensive Care Unit. The Sailor was declared deceased April 13,” the Navy wrote in a Monday statement.
The sailor’s death is the first for the U.S. Navy’s vessels at sea and comes as nearly 600 sailors on the ship test positive for the coronavirus. —Amanda Macias
10:59 am: Supreme Court to hear arguments virtually in May, including over Trump tax records and Electoral College
The Supreme Court said it will hear some oral arguments virtually in May after closing its building to the public and postponing cases as a precaution against the spreading coronavirus.
The move is a first for the high court as it wrestles to carry on with its business despite the strain imposed by the raging public health crisis.
Among the disputes that will be heard via teleconference are three high-profile cases over whether President Donald Trump may keep his financial records, including his tax returns, shielded from state and congressional investigators.
The court will also hear key Electoral College cases, over whether Electoral College voters may differ from their state’s popular vote, in the new format, the top court said.
In all, the court scheduled 10 arguments to be heard over the first two weeks of May, according to the release issued Monday. It has not yet assigned dates for each of the cases to be argued. —Tucker Higgins
10:30 am: New York City is having a ‘very good day’ as rate of new coronavirus cases falls, Mayor de Blasio says
Healthcare workers are seen next to the Lenox Hill Hospital in New York City, United States on April 12, 2020.
Tayfun Coskun | Anadolu Agency | Getty Images
New York City Mayor Bill de Blasio said the city was having a “very good day” as the rate of new coronavirus cases and hospitalizations continues to fall.
But de Blasio hammered away on the need for city residents to maintain virus mitigation efforts, saying New York needed to see further progress in minimizing the number of infected people.
The number of new coronavirus hospitalizations and percentage of people testing positive for Covid-19 in New York City have all dropped, de Blasio said at a press conference. The total number of patients in intensive care has also fallen in recent days, he said.
There were 835 ICU admissions in NYC Health + Hospitals on Saturday, compared with 857 ICU admissions the day before. —Dan Mangan, Berkeley Lovelace Jr., William Feuer
10:24 am: NY Gov. Cuomo says the ‘ultimate resolution’ of coronavirus will come with vaccine in 18 months
New York Gov. Andrew Cuomo said the coronavirus crisis will only be solved once an effective vaccine is developed and made widely available – and it could take a year and a half to get there.
“I don’t think ultimate resolution comes until you have a vaccine,” Cuomo said during a call-in appearance on infamous shock jock Howard Stern’s radio show.
“Where someone can say to you, ‘Don’t worry, Howard, there’s a vaccine, you take this, you never get it, it’s a non-issue,'” then the virus will finally be resolved, Cuomo said. “That’s 18 months.”
Cuomo’s remarks came amid a growing debate over when the U.S. will contain the virus enough to reopen parts of the economy that have been crippled by the pandemic. —Kevin Breuninger
10:15 am: ‘Don’t short America’ — Ken Langone says coronavirus mitigation efforts are working
Republican billionaire Ken Langone praised the health-care industry, public service workers and drug companies in the fight against the coronavirus, but bashed the news media.
“Don’t short America,” said Langone, who is chairman of NYU Langone Medical Center, one of the nation’s premier hospitals and has given hundreds of millions of dollars to NYU’s hospital and medical school.
From doctors and nurses to police officers and firefighters, “people are making sacrifices for the benefit of all of us. The least we can do is our part. Our part as citizens should be stay home, obey separation.” Langone said. “It is working.”
The co-founder of Home Depot and founder of investment firm Invemed Associates also lauded pharmaceutical and biotech companies for devoting all their research capabilities to trying to find a coronavirus vaccine and treatments for Covid-19. —Matthew J. Belvedere
10:05 am: Amazon to hire 75,000 more workers as demand rises due to coronavirus
In March, the company said it would hire additional warehouse and delivery workers across the country amid a surge in online shopping during the coronavirus outbreak. Since then, Amazon said it has hired more than 100,000 new employees and, as a result, is staffing up even more to help fulfill orders.
As it continues to hire more workers, Amazon has also raised employees’ hourly pay and doubled overtime pay for warehouse workers. Through the end of April, warehouse and delivery workers can earn an additional $2 per hour in the U.S., £2 per hour in the UK, and approximately €2 per hour in many EU countries. Amazon currently pays $15 per hour or more in some areas of the U.S. for warehouse and delivery jobs. —Annie Palmer
9:45 am: ABC’s Stephanopoulos positive for coronavirus but feels well
ABC News Anchor George Stephanopoulos
Paula Lobo | ABC | Getty Images
“Good Morning America” host George Stephanopoulos revealed Monday that he’s tested positive for the coronavirus, but has been relatively symptom-free.
The ABC newsman revealed his diagnosis on the show, telling co-host Robin Roberts that, “I feel fine.”
Stephanopoulos’ wife, Ali Wentworth, had come down with COVID-19 and tweeted that she’s “never been sicker.” Her husband has been taking care of her, their children and doing his TV job in the interim.
He said the only potential symptoms he has felt were a lower back ache that he had attributed to a hard workout, and a briefly diminished sense of smell. —Associated Press
9:33 am: Stocks open lower, giving up some of last week’s historic gains
Stocks dipped on Monday, giving back some of the sharp gains from the previous week, as investors continued to weigh the coronavirus outlook along with a historic oil production cut.
The Dow Jones Industrial Average slid 130 points at the open, or 0.5%. The S&P 500 fell 0.5% while the Nasdaq Composite pulled back 0.4%.
The U.S. stock market had one of its biggest weekly gains ever last week. The Dow posted its seventh-best weekly performance, rallying 12.7%. The S&P 500 had its biggest one-week gain since 1974, jumping 12.1%. —Fred Imbert
9:28 am: Amazon stops accepting new online grocery customers amid surging demand
Amazon will begin to put new grocery delivery customers on a wait-list and curtail shopping hours at some Whole Foods stores to prioritize orders from existing customers buying food online during the coronavirus outbreak, the company said on Sunday.
Many shoppers recently seeking to purchase groceries from the Seattle-based e-commerce company found they could not place orders due to a lack of available delivery slots. Amazon said it would have to relegate all new online grocery customers to a wait-list starting Monday while working on adding capacity each week.
In recent weeks, it increased the number of Whole Foods stores offering grocery pickup to more than 150 locations, up from 80 previously.
Amazon also plans to shorten some Whole Foods stores’ hours for the public so its employees can more quickly fulfill online grocery orders, the company said. —Reuters
9:23 am: ‘Banks are playing’ games on loans, leaving small businesses ‘out in the cold,’ Mark Cuban says
Billionaire entrepreneur Mark Cuban said the recently launched small business loan program has been beset by challenges that could impact the long-term outlook for companies.
“Banks are playing themselves. They’re being banks and they’re trying to determine if the credits are good and that’s leading to a lot of small businesses that are left out in the cold,” Cuban said on “Squawk Box.” “We are at an inflection point” to get money into the system for businesses of all sizes, he said.
Cuban said some banks have questioned a company’s gross margin and were therefore uncertain about making loans.
Cuban said banks have “implemented all these hurdles” that were not supposed to be a part of the program, which was established by the government’s $2 trillion coronavirus relief package that was passed in late March.
“Until we get through that friction, there’s going to be a lot of issues and there’s going to be a lot of people laid off and a lot of companies that go out of business,” he added. —Kevin Stankiewicz
9:12 am: New York, New Jersey, and Massachusetts lead US in number of reported cases
9:04 am: Trump retweets #FireFauci after scientist comments
U.S. President Donald Trump speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Friday, April 10, 2020.
Kevin Dietsch | Bloomberg | Getty Images
U.S. President Donald Trump retweeted a call to fire Dr. Anthony Fauci after the nation’s top expert on infectious diseases said lives could have been saved if the country had shut down sooner during the novel coronavirus outbreak.
Trump retweeted a message Sunday from a former Republican congressional candidate who cited Fauci’s comments during a television interview on Sunday and tweeted “time to #FireFauci.”
The Republican president in the past has repeated critical tweets of officials or enemies rather than make the criticism himself. The retweet fueled speculation Trump was running out of patience with the popular scientist and could conceivably fire him. The White House did not immediately return a request for comment on whether Trump is unhappy with Fauci.
Fauci was asked on CNN’s “State of the Union” about a New York Times report documenting early warnings issued to the White House about the novel coronavirus. The scientist acknowledged shutting the country down sooner could have saved lives, but cautioned that a number of factors were involved.
“Obviously, it would have been nice if we had a better head start, but I don’t think you could say that we are where we are right now because of one factor,” Fauci said. “It’s very complicated.” —Reuters
8:42 am: Pace of reported coronavirus cases
7:01 am: China defends the WHO after Trump, and others, say it is deferring to Beijing
The World Health Organization has come under intense scrutiny for its handling of the coronavirus pandemic with President Donald Trump’s administration, China and Taiwan locked in a tussle of words.
Last week, Trump blamed the WHO for getting “every aspect” of the coronavirus pandemic wrong and threatened to withhold funding from the international organization. He also said on Twitter that the WHO is “China centric” even though the organization is largely funded by the U.S.
The latter comment echoes many of the top critiques of the WHO, such as too readily trusting information reported by China.
Chinese foreign ministry spokesman Zhao Lijian defended the WHO, saying it has been “actively performing its duties and upholding an objective, science-based and impartial position.”—Huileng Tan
6:11 am: Spain reports 3,477 new cases, 517 new deaths
Mortuary employees wearing face masks transport a coffin of a COVID-19 coronavirus victim at La Almudena cemetery on April 04, 2020 in Madrid, Spain.
Carlos Alvarez | Getty Images
Spain has reported 3,477 new coronavirus cases and a daily rise of 517 deaths, bringing the total number of fatalities to 17,489, the country’s health ministry said. The number of daily deaths has fallen; the death toll the previous day was 619.
The total number of confirmed cases in Spain has now reached 169,496 (including deaths and recoveries). Spain has started to lift certain restrictions, reopening some construction sites and factories. —Holly Ellyatt
5:38 am: Spain lifts some lockdown measures; Italy records lowest daily deaths since March
Construction and factory workers in Spain are returning to work as the government lifts some of the most stringent lockdown measures, but opposition parties are cautioning against an “imprudent” relaxation of the rules.
Spain, one of the worst-hit nations by Covid-19, has allowed some factories to reopen as well as some construction work to restart, after the sectors were ordered to stop production two weeks ago. However, the message from government officials is that the country remains in lockdown mode. Schools, bars, restaurants, and other services continue to be closed to the public and Spaniards are supposed to stay home. —Silvia Amaro
5:10 am: Indonesia reports 316 new cases and 26 more deaths
An Indonesian woman walks past a mural that invite people to fight against the COVID-19 coronavirus in Surabaya, East Java on March 26, 2020.
Juni Kriswanto | AFP | Getty Images
Indonesia announced 316 new cases, bringing the tally of infections in the country to 4,557. That’s according to data provided by a health ministry official, Achmad Yurianto.
Twenty-six new coronavirus-related deaths were reported Monday, taking the total number to 399. —Holly Ellyatt
4:35 am: Russia reports record daily rise in new cases
Russia reported 2,558 new infections, a record daily rise that brings the total number of infections to 18,328, the country’s coronavirus response center said. Russia has reported 148 deaths from the virus. It says it has conducted 1.3 million tests. —Holly Ellyatt
Read CNBC’s coverage from CNBC’s Asia-Pacific and Europe teams overnight here: Russia reports record daily rise in new cases; Spain lifts some restrictions.