A number of states across the U.S. continued to report a rise in new cases over the weekend, as White House trade advisor Peter Navarro told CNN's "State of the Union" Sunday that the White House is preparing for a potential "problem in the fall."
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 8.97 million
- Global deaths: At least 468,589
- U.S. cases: More than 2.28 million
- U.S. deaths: At least 119,977
The data above was compiled by Johns Hopkins University.
Trump economic advisor Kudlow says a second wave 'isn't coming'
Larry Kudlow, director of the U.S. National Economic Council, speaks to members of the media outside the White House in Washington, D.C., U.S., on Monday, June 15, 2020.Photographer: Stefani Reynolds/CNP/Bloomberg via Getty Images
10:56 a.m. ET — President Donald Trump's chief economic advisor, Larry Kudlow, said a second wave of the coronavirus "isn't coming" and he characterized reports of new cases in a handful of U.S. states as isolated hot spots.
Kudlow's remarks to CNBC came after the U.S. reported more than 30,000 new infections on Friday and Saturday, the highest daily totals since May 1. Peter Navarro, one of Trump's top trade advisors, said Sunday that the White House is, in fact, preparing for another wave of the disease.
Kudlow also said Monday that House, Senate and White House leaders will likely have another economic stimulus package in the weeks following Congress's July recess. —Thomas Franck
Existing home sales plummet in May from coronavirus effect
10:52 a.m. ET — As the coronavirus pandemic continues to make an impact on the economy, existing home sales dropped 9.7% in May from the previous month to a seasonally adjusted annualized rate of 3.91 million units, according to the National Association of Realtors.
Annually, sales are down 26.6%, the largest annual decline since 1982, CNBC's Diana Olick reports. But realtors believe this could likely be the bottom point for home sales as the economy recovers.
"Well into the month of June, I think people are much more relaxed, knowing that there is a massive stimulus package in the economy," said Lawrence Yun, chief economist for the Realtors. "I am very confident that this will be the cyclical low point. Buyers are coming back and listings are coming back." —Suzanne Blake
Northeast unlikely to see spike despite reopening, Dr. Scott Gottlieb says
Scott Gottlieb, former Commissioner of the FDAAdam Jeffery | CNBC
10:34 a.m. ET — With New York City moving its next phase of reopening, former Food and Drug Administration Commissioner Dr. Scott Gottlieb says the city and region are unlikely to see a major spike in new cases.
Some states mostly in the South and West that reopened early — before they had driven spread down to a contained level and before they had the necessary testing and tracing infrastructure in place — have seen major resurgences in infection over the past couple of weeks.
"We'll see an increase in cases, but we're reopening against a much different backdrop," Gottlieb said on "Squawk Box." "So I wouldn't expect to see the big increases that they're seeing in the Southeast and the South here when we reopen."
Gottlieb said that because so many people were initially infected in New York City and the tri-state region, a large portion of the population likely has some level of immunity against the virus already. That will help limit spread, 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 company Illumina.
Minnesota Timberwolves want to increase social awareness with NBA jersey patch opening
10:27 a.m. ET — The Minnesota Timberwolves' season is officially ended, and the team is now looking to turn the page on the 2019-20 season, and the transition will include a change to the team jerseys. The Timberwolves' NBA jersey patch partnership with tech company Fitbit has expired, and the team is looking to add a new corporate sponsor that aligns with its renewed mission of combating racism and social inequality.
Timberwolves COO Ryan Tanke told CNBC the club is seeking a company that will help "create impact in our community" and "be a champion for social advancement" as the Minnesota community continues to heal following the death of George Floyd.
The Timberwolves have been one of the most hit organizations throughout the sports industry since March 12, when sports halted due to Covid-19. Timberwolves star center Karl-Anthony Towns' mother, Jacqueline, died on April 13 due to Covid-19. Tanke said both events are "critically important," adding Floyd's murder "unlocked for us this chance to be a vocal leader with Minneapolis being the epicenter of this." —Jabari Young
Gilead to test easier-to-administer form of coronavirus drug
10:17 a.m. ET — Gilead Sciences announced it is looking to test an inhaled version of remdesivir, the antiviral drug that has shown to be modestly beneficial for people hospitalized with Covid-19.
Remdesivir is administered intravenously. The company told investors earlier this year that it was looking to develop easier-to-administer versions of the drug, including an inhaled version. It will administer the drug through a nebulizer, a delivery device that can turn liquid medicines into mist. The drug can't be administered in pill form because its chemical makeup would impact the liver, the company noted.
The company will screen healthy volunteers this week for the early-stage trial and hope to begin studies in patients with Covid-19 in August. —Berkeley Lovelace, Jr.
Grocery stores look to robots, salad kiosks and more to revive prepared food
Texas grocer Central Market turned salad bars and hot bars into packaged food displays during the pandemic.Source: Central Market
8:53 a.m. ET — The idea of sharing a serving spoon with strangers at a salad bar or hot bar has quickly fallen from favor during the pandemic, and grocers are looking for new ways to revive prepared food.
At Publix, an employee in a mask and gloves dishes out each item at the former self-serve food bars. Wegmans moved hummus and olives behind the cheese counter. And at H-E-B, some coolers carry packaged entrees from local restaurants.
For some companies, the decline of the salad bar has created new opportunities. California-based Chowbotics is selling its foodservice robot, which can hold up to 22 ingredients, to grocers. Restaurant franchise Saladworks recently signed a deal to open staffed salad kiosks inside of more grocery stores. —Melissa Repko
U.K. downgrades coronavirus threat level
8:20 a.m. ET — Chief medical officers in the U.K. lowered the nation's threat level around Covid-19 from "high or rising exponentially" to a benchmark of "general circulation," Reuters reported.
Health officials noted that the pandemic is far from over and that localized outbreaks are likely to continue, Reuters reported, but cited the steady decrease in Covid-19 cases in making the change.
The U.K. had been under threat level four, "transmission is high or rising exponentially," since mid-May. The U.K. is one of the hardest hit countries in the world with more than 50,000 coronavirus-related deaths, according to official data. —Alex Harring
Infection found at PepsiCo China factory, spurring production suspension
8:10 a.m. — PepsiCo China is halting production at one of its factories in Beijing in the Daxing district after at least one employee tested positive for Covid-19, the company said Sunday, according to Reuters.
PepsiCo China director of corporate affairs Fan Zhimin said operations halted as soon as the first case was confirmed on June 15, Reuters reports.
Pang Xinghuo, a senior official for the Beijing disease control authority, said eight people at the Daxing factory tested positive, the news service said. —Suzanne Blake
South Korea fears it is battling 'second wave'
South Korean soldiers wearing protective gear spray disinfectant on the street to help prevent the spread of the COVID-19 coronavirus, at a residential area in Seoul on March 9, 2020.Jung Yeon-Je | AFP | Getty Images
7:26 a.m. ET — Health authorities in South Korea said for the first time on Monday that the country is experiencing a "second wave" of coronavirus infections around the capital Seoul.
On Monday, the director of Korea Centers for Disease Control and Prevention Jeong Eun-kyeong said a holiday in early May marked the beginning of a "second wave" of cases in the greater Seoul area, Reuters reported.
"In the metropolitan area, we believe that the first wave was from March to April as well as February to March," Jeong said at a news briefing, according to Reuters. "Then we see that the second wave which was triggered by the May holiday has been going on."
South Korea has 12,438 confirmed cases of the virus, according to Johns Hopkins University, and has reported 280 deaths. —Holly Ellyatt
WHO reports record single-day spike in cases globally
Gravediggers carry the coffin of Avelino Fernandes Filho, 74, during his funeral who passed away from the coronavirus disease (COVID-19), in Rio de Janeiro, Brazil, May 18, 2020.Ricardo Moraes | Reuters
7:21 a.m. ET — The World Health Organization on Sunday reported the largest single-day increase of coronavirus cases around the world since the virus emerged in Wuhan, China more than six months ago.
The United Nations agency said more than 183,000 new cases were reported on Sunday. Brazil was the biggest contributor, reporting 54,771 new cases. The U.S. tallied 36,617 new cases.
On Friday, WHO Director-General Tedros Adhanom Ghebreyesus warned that the pandemic has entered a "new and dangerous phase," as the spread of the virus continues to accelerate in new communities and resurge in some that had already been hit hard.
"Many people are understandably fed up with being at home. Countries are understandably eager to open up their societies and economies," he said. "But the virus is still spreading fast. It is still deadly and most people are still susceptible."
The coronavirus has now infected more than 8,970,977 people around the world and killed at least 468,589 people, according to data from Johns Hopkins University. —Will Feuer
Source: cnbc.com