American Covid-19 coronavirus numbers continue to rise, topping 143,000 early Monday morning, according to the Johns Hopkins Coronavirus Resource Center. Confirmed U.S. cases are up about 19,000 over the past day. The U.S. case number hit 100,000 late Friday.
Globally, Hopkins reports more than 735,000 cases. World-wide cases, up about 60,000 over the past day, are growing at an accelerating rate.
The U.S. has more cases than any other country. Federal, state, and local government officials are acting in concert with industry to increase testing and hospital capacity as rapidly as possible.
Stock in Abbott Laboratories (ticker: ABT), for instance, is up more than 12% in premarket trading after the company announced it received emergency-use authorization from the Food and Drug Administration for a Covid-19 diagnostic test than can take as little as five minutes.
New York City and its surrounding counties remain the epicenter of the American outbreak with more than 60,000 cases, up about 10,000 cases over the past day.
New York, New Jersey and Connecticut have tested about 220,000 people for Covid-19. About 75,000 have tested positive—state wide—accounting for about half of the U.S. cases, according to the Covid Tracking Project. Deaths in the tri-state region exceed 1,100.
The same data set reports more than 12,000 New York state hospitalizations, up about 2,000 over the past day.
The rising number of hospitalization highlights the need to “flatten the curve.” New York state has about 57,000 hospital beds in all wards. (There are about 924,000 hospital beds in 6,100 hospitals in the U.S.)
Capacity is an issue, and officials are taking steps to mitigate the problem. Manhattan, for instance, completed its first 1,000-bed temporary hospital at the Jacob Javits Convention Center Friday. What’s more, the U.S. Navy sent the U.S.S. Comfort hospital ship to New York from Virginia Saturday.
Covid-19 deaths now top 2,500 in the U.S. American mortality has ticked up in recent days to about 1.7%. In Italy, mortality is currently more than 10% of confirmed cases. Around the globe, Covid-19-related deaths top 35,000, with overall mortality at about 4.8% of confirmed cases.
The World Health Organization reported more than 63,000 new cases diagnosed Sunday. It’s the highest number reported in the organization’s daily situation reports and the second time—out of 69 reports—the number has exceeded 60,000.
At the current rate of growth, the 1 million case mark is about four or five days away.
The outbreak continues to fuel incredible stock-market volatility. The Dow Jones Industrial Average and S&P 500 dropped 4.1% and 3.4%, respectively, on Friday. The indexes still rose 12.8% and 10.3%, respectively, for the week. Overall, the Dow is down 14.9% so far in March.
Stock-market gains last week were fueled by passage of a $2 trillion stimulus package designed to help workers and businesses manage through the economic pause necessitated by social distancing.
Stock futures were down, but recovered, and are close to flat after President Donald Trump indicated social-distancing may need to stay in place through the month of April.
For more Covid-19 information, here’s a link to the Centers for Disease Control and Prevention website.
Write to Al Root at allen.root@dowjones.com
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Covid-19 Hospitalizations Rise in U.S. as Global Million-Case Mark Nears - Barron's
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