New York Governor Andrew Cuomo says 13.9% of New York state residents have been infected with Covid-19.
The state has tested 3,000 individuals at grocery stores and shopping centers. The Covid-19 tests took place in 19 counties and 40 localities.
Antibody tests show that nearly 14% of those tested have coronavirus antibodies.
In New York City the numbers are even higher. Some 1,300 Covid-19 tests in New York City showed that 21% tested positive for antibodies.
This number is much greater than we saw from antibody tests in California. In the Bay Area and Los Angeles, testing indicated 2% – 5% of residents have been infected.
The Big News…
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House Votes on $474 Billion Stimulus
The U.S. House of Representatives is voting on the $484 billion stimulus measure. The bill passed the Senate on Tuesday. It’s expected to be signed by President Trump tonight or tomorrow.
4.4 Million Unemployment Claims
Another 4.4 million Americans filed for unemployment last week. That brings the total to 26 million unemployment claims over the last five weeks.
Georgia Open for Business
Georgia’s governor plans to reopen the economy on Friday. Plans call for gyms, hair and nail salons, bowling alleys and tattoo parlors to re-open. President Trump said he disagrees with the move and encouraged the state to continue stay-at-home measures.
Elizabeth Warren’s Brother Dies
Sen. Elizabeth Warren says that her oldest brother died of the Covid-19 virus. He was 86 years old and tested positive three weeks ago.
New $1 Trillion Stimulus
Republicans on Capitol Hill are starting work on another stimulus bill. This one is expected to top $1 trillion and include huge spending on infrastructure projects including 5G. Go here for the top All American 5G stocks to BUY NOW.
The Coronavirus Numbers
Here are the numbers from Thursday at 1:15 p.m. ET.
- 2,692,579 Infected worldwide
- 188,059 Deaths
- 866,105 Infected in the U.S.
- 48,809 Deaths in the U.S.
The Covid-19 outbreak will crush U.S. corporations and their earnings. Reports are coming in every day.
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Stocks are trading higher by 1%.
Hopes for another $484 billion stimulus helped push stocks higher. Additionally, a rebound in oil prices and energy stocks helped send stocks rebounding for a second consecutive day.
Last week there was a lot of hope surrounding a drug from Gilead Sciences (NASDAQ: GILD). Yet the Financial Times reports today that the antiviral drug did not help patients with Covid-19.
Earnings season continues to create great uncertainty for the stock market.
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