Coronavirus live updates: NY deaths jump, Senate aims for Thursday vote on small business aid

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 1,381,014
• Global deaths: At least 78,269
• US cases: At least 378,289
• US deaths: At least 11,830

The data above was compiled by Johns Hopkins University.

Deaths from the COVID-19 epidemic in Italy rose by 604, a lower daily tally than the 636 seen the day before, while the number of new cases posted the smallest increase since March 13.

The total death toll in the world’s hardest-hit country since its outbreak came to light on Feb. 21 rose to 17,127, the Civil Protection Agency said.

The total of confirmed cases increased by 3,039 on Tuesday to 135,586, the second successive daily decline, underscoring growing confidence that the illness is on the retreat thanks to a nationwide lockdown introduced on March 9.

New cases rose by 3,599 on Monday. Previous daily increases since March 17 had all been in a range of 4,050-6,557. —Reuters

Homeowners whose finances have been battered by coronavirus might want to think again before postponing their mortgage payments.

Congress has offered some relief to mortgage borrowers who are experiencing financial strain from the coronavirus pandemic, which has left a flood of layoffs in its wake.

The Coronavirus Aid, Relief, and Economic Security Act – or CARES Act – has a provision that would allow affected homeowners to apply for up to a 12-month reprieve on some mortgages.

Borrowers aren’t being forgiven. Instead, the state and federal COVID-19 measures call for forbearance – the postponement or reduction of the loan payment due. —Darla Mercado

CNBC’s Jim Cramer said that he believes that Wall Street’s recent optimism over an apparent slowdown in coronavirus cases is not shared by many Americans on Main Street.

“There is a happy days are here again Wall Street impression versus what I hear … people saying, ‘Can I get a mask? How do I get a mask? Do I want an N95?'” Cramer said on “Squawk on the Street.” 

Citing recent COVID-19 case data, JPMorgan‘s Marko Kolanovic recently told clients that a “limited reopening” of the U.S. economy could happen soon.

“Look, I like it. I love optimism … but I don’t like getting sick,” Cramer said, adding he feels there’s more trepidation toward restarting something resembling a normal life than the stock market’s recent moves are showing. —Kevin Stankiewicz

Senate Majority leader Mitch McConnell said he hopes to approve further funding for the small business loan program this Thursday.

“I will work with Secretary Mnuchin and Leader Schumer and hope to approve further funding for the Paycheck Protection Program by unanimous consent or voice vote during the next scheduled Senate session on Thursday,” he said in a statement.

Sen. Marco Rubio flagged the news in a tweet moments before McConnell’s statement. —Lauren Hirsch, Jacob Pramuk

U.S. House Democrats representing Washington state have urged Boeing to accept government aid to help weather the coronavirus pandemic after the plane maker’s chief executive balked at the possibility of government equity stakes in exchange for the relief.

“Given the severe harm the nation’s aerospace industry and hardworking women and men at the Boeing company are experiencing during this pandemic, we hope you will consider utilizing the economic assistance provided by the CARES Act to safeguard thousands of jobs at Boeing in Washington state and across the country,” said a letter sent Monday to Boeing CEO Dave Calhoun from Rep. Rick Larsen, a Washington Democrat and chairman of the House’s aviation subcommittee, and six other lawmakers from the state, where Boeing employs about 70,000 people.

Boeing has not yet decided whether it will apply for federal aid and is awaiting the guidance from the Treasury Department about conditions and requirements for the relief, according to a person familiar with the matter. —Leslie Josephs

Stock markets are “totally unprepared” for how long economies will take to normalize after the coronavirus crisis, one strategist told CNBC.

Global markets have been plunged into turmoil in recent months as investors reacted to the escalating coronavirus crisis. The Dow Jones Industrial Average and S&P 500 were both down by around 20% over the first quarter of this year, while European stocks posted their worst quarter since 2002. However, many indexes have rallied in recent days as data suggested the spread of COVID-19 in Europe and the U.S. could be starting to slow.

But Steen Jakobsen, chief economist at Saxobank, said the optimism could be premature, claiming investors were failing to price in the long-term fallout of the crisis. 

“I still think the market is totally unprepared for what is coming in terms of when we open up,” he told CNBC’s “Squawk Box Europe” Tuesday. “The market is celebrating, and very rightly so, that we have a flattening out of the curve right now in terms of people being infected, but the real economic drama will be when we get to the other side of this, because opening up will take month upon month.” —Chloe Taylor

Coronavirus deaths in New York surged by 731 on Monday, the single-biggest daily jump in COVID-19 fatalities since the outbreak began a few months ago, Gov. Andrew Cuomo said.

The jump in fatalities comes even as intensive care admissions starts to decline, giving the state some needed breathing room to ramp up supplies and staff to handle an expected wave of cases over the next few weeks, he said. So far, 5,489 people in the state have died from the coronavirus, accounting for roughly half of all deaths in the U.S. 

New York is the epicenter of the outbreak in the United States, with more than half of cases in the state in New York City, according to data compiled by Johns Hopkins University. —Berkeley Lovelace Jr., William Feuer, Noah Higgins-Dunn 

Jeff Bezos’ space venture Blue Origin has joined other rocket companies in volunteering its manufacturing expertise to help make products needed to fight the coronavirus crisis.

Blue Origin workers from its BE-4 rocket engine team are volunteering to make plastic pieces needed for face shields, the company said in a video released Tuesday. The rocket company has about 38 different types of plastics that it can 3D print in house, with printers working day and night to make the parts. 

Blue Origin joins fellow rocket builders Virgin Orbit and SpaceX in producing supplies and devices needed by hospitals to combat the coronavirus pandemic. —Michael Sheetz 

New York City Mayor Bill de Blasio said the number of coronavirus patients being placed on ventilators in recent days has been better than expected, giving the city precious time to secure needed supplies for a wave of patients expected to hit local hospitals in the next few weeks.

“We’ll have to see in the days ahead if it’s something that’s sustained and something that deepens,” he said at a press conference in front of the Alfred E. Smith public elementary school in downtown Manhattan on Tuesday. “But I want to at least not a little improvement in the last few days and thank God for that.”

There are at least 72,181 confirmed COVID-19 cases and 3,485 deaths in New York City, the worst outbreak in the U.S., according to data compiled by Johns Hopkins University Tuesday morning.  Roughly 22% of the cases in New York City have ended up hospitalized, according to the NYC Health Department. That’s more than double the global hospitalization rate, according to the World Health Organization. —William Feuer, Noah Higgins-Dunn 

Stanford University is enacting a 20% pay cut for Provost Persis Drell and President Marc Tessier-Lavigne amid a financially challenging time as he university has had to spend extra money in response to the coronavirus pandemic, Drell stated in a message to the Stanford community.

University of Oregon President Michael Schill also announced he will take a voluntary 12% pay cut. The institution’s 10 vice presidents and athletic director are taking a 10% cut each. These reductions are expected to last six months, but could be extended to the end of the 2020-2021 school year.

The University of Southern California joined in reducing the salaries of its senior leadership officers. Carol Folt, the university president, will take a 20% reduction while the provost, senior vice presidents and deans will take 10% cuts each.

“Despite our resilience and liquidity, the magnitude of the shock will be significant. We are experiencing sizable additional costs associated with stopping the spread of COVID-19 in our 80,000 strong community and we are suffering a significant decline in many important sources of revenue,” said USC Provist Charles F. Zukoski and James M. Staten, senior vice president, finance, in a joint statement. —Jasmine Kim 

Vice President Mike Pence and other key members of the White House coronavirus task force will hold a conference call with House Democrats on Wednesday to provide an update and field questions about the U.S. response to the pandemic.

The White House team, which is led by Pence, will update the House Democratic caucus on multiple facets of the response effort, including the status of supplies and supply chains, a source familiar with the task force told CNBC. The team will also provide a breakdown of current data and modeling on the virus, the source said.

National Institute of Allergy and Infectious Diseases Director Anthony Fauci and coronavirus response coordinator Deborah Birx are also set to attend the phone conference, which is scheduled for 1 p.m. ET. —Kevin Breuninger, Lauren Hirsch 

India, the world’s main supplier of generic drugs, said on Tuesday it will allow limited exports of the anti-malaria drug hydroxychloroquine that U.S. President Donald Trump has touted as a potential weapon in the fight against the coronavirus.

The Indian government had put a hold on exports of hydroxychloroquine as well as on the pain reliever, paracetamol, saying stocks were depleting because of the hit to global supply chains after the coronavirus emerged in China late last year. 

But Trump spoke to Prime Minister Narendra Modi over the weekend seeking supplies and on Monday said India may face retaliation if it didn’t withdraw the ban on exports.

India’s neighbors, including Nepal, have also sought the anti-malaria drug. —Reuters 

Stocks rallied on Tuesday, building on the strong gains from the previous session, as investors grew more optimistic about a decline in new coronavirus cases.

The Dow Jones Industrial Average traded 846 points higher at the open, or more than 3%. The S&P 500 gained 3.2% while the Nasdaq Composite surged 2.8%.

Stocks surged on Monday as a slew of coronavirus headlines pointed to a potential stabilization in the U.S. The Dow soared 1,600 points, posting its third-biggest point gain ever. The S&P 500 jumped 7% to its highest level since March 13. With Monday’s rally, the S&P 500 bounced about 20% from its 52-week low on March 23. —Fred Imbert, Yun Li 

Rep. Josh Gottheimer, D-N.J., told CNBC on Tuesday that New Jersey is beginning to see signs that the coronavirus pandemic is nearing a peak in his state.

“What we’re doing is working,” Gottheimer said on “Squawk Box.” “Our death toll is still way too high, and it’s just awful the number of people who are sick. … But the good news is it seems there is some light on the horizon.” 

There are more than 41,000 confirmed cases of COVID-19 in New Jersey, according to Johns Hopkins University data. More than 1,000 people have died. 

Gottheimer, who represents a portion of northern New Jersey that includes Bergen and Sussex counties, said about 20% of the state’s cases have been in his congressional district. —Kevin Stankiewicz

Major League Baseball has discussed the possibility of playing all games in Arizona, with teams stationed in confined environments, according to multiple reports. Clubs would play games at spring training ballparks around the Phoenix area as part of MLB’s plan to resume operations after the coronavirus pandemic forced the worldwide suspension of sports. Chase Field, the home of the Arizona Diamondbacks, is also an option.

The Associated Press said league officials discussed the plan with the MLB Players Association on Monday, days after President Donald Trump spoke U.S. with sports commissioners to examine the economic effect the virus is having on leagues. 

Trump met with reporters after the call, saying he wants to see fans back in arenas as soon as possible. —Jabari Young 

A spokesperson for U.K. Prime Minister Boris Johnson said he was “stable” and in “good spirits,” but remained in intensive care after his coronavirus symptoms worsened Monday afternoon.

Speaking to reporters, the spokesperson said Johnson had received oxygen treatment but was breathing without any other assistance. —Holly Ellyatt

Walgreens plans to open 15 drive-thru testing locations for the coronavirus across seven states, starting later this week.

The sites will be in Arizona, Florida, Illinois, Kentucky, Louisiana, Tennessee and Texas, the drugstore chain said in a news release. They will use Abbott Laboratories‘ rapid COVID-19 test.

Walgreens said in a news release that it chose the new sites with the Department of Health and Human Services based on anticipated hot spots for cases of COVID-19. It said it expects to test up to 3,000 people per day across the sites.

Testing is free for people who meet the Centers for Disease Control and Prevention’s criteria. The rapid COVID-19 test, which the sites will use, delivers positive results in as little as five minutes and negative results within 13 minutes. —Melissa Repko

A crewmember on the Navy hospital ship sent to New York City to originally treat noncoronavirus patients tested positive for COVID-19 on Monday, the Navy said. 

“The crewmember is isolated from patients and other crewmembers,” the Navy said in a statement to NBC. “There is no impact to Comfort’s mission, and this will not affect the ability for Comfort to receive patients. The ship is following protocols and taking every precaution to ensure the health and safety of all crewmembers and patients on board.”

The Comfort, which is docked on Manhattan’s West Side, was deployed to relieve the city’s hospitals of noncoronavirus patients. However, President Donald Trump agreed on Monday to allow the 1,000-bed hospital ship to be used to treat COVID-19 patients.

The ship until now has been used to treat just a handful of patients without COVID-19, leading to criticism that it has been of little or no help with the hospital crisis in New York. —Will Feuer

Volkswagen hopes to partially reopen its plant in Spain’s Navarra region on April 20 after its closure in mid-March, a spokesman said.

The plant in northern Spain should reopen with one of its three daily shifts working four days in the first week, the plant spokesman said. The goal is to add a second shift the following week, depending on how well the supply chain works, he said.

All workers would wear masks and gloves, and the plant’s disinfection would be intensified, he added. The plant has around 4,800 workers and produces the Polo and T-Cross models. —Reuters

U.K. Cabinet minister Michael Gove has gone into self-isolation for seven days after a member of his family came down with symptoms of COVID-19, Sky News and other news agencies reported.

Gove is the latest in a string of U.K. politicians and officials who have self-isolated after they, or family members, displayed symptoms of the virus. Prime Minister Boris Johnson remains in intensive care after his coronavirus symptoms worsened Monday. —Holly Ellyatt

Spain reported 5,478 new cases in the last 24 hours, taking the total number to 140,510, the health ministry said.

The number of deaths has risen by 743 cases to 13,798, that’s above the 637 deaths recorded the previous day. —Holly Ellyatt

Japanese Prime Minister Shinzo Abe has declared a state of emergency to fight coronavirus infections in major population centers and has unveiled a stimulus package worth 108 trillion yen ($990 billion).

Abe announced the state of emergency targeting the capital Tokyo and six other prefectures — accounting for about 44% of Japan’s population — for a period of about one month, Reuters reported.

“We have decided to declare a state of emergency because we’ve judged that a fast spread of the coronavirus nationwide would have an enormous impact on lives and the economy,” he told parliament earlier.

His Cabinet will also finalize the stimulus package — which is equal to 20% of Japan’s economic output — to cushion the impact of the epidemic on the world’s third-largest economy. — Holly Ellyatt