Now 2.18 million COVID-19 cases globally, 147,384 dead; China revises Wuhon toll
The number of cases of the coronavirus that causes COVID-19 rose above 2.18 million on Friday, as China doubled the official number of deaths in Wuhan, the city that first reported the illness late last year, and its GDP fell by 6.8% to mark the first economic contraction on record.
The number of cases of COVID-19 globally climbed to 2.18 million on Friday with 147,384 fatalities, according to data aggregated by Johns Hopkins University. The U.S. has the most cases at 672,246 and 33,318 fatalities, and New York remains the U.S. epicenter. See: St. Louis Fed’s Bullard calls for government to fund ‘pop up industry’ to produce massive amounts of coronavirus tests
The news sent Gilead shares GILD, +7.76% sharply higher and triggered a stock-market rally. There are no proven treatments or vaccines for the novel coronavirus, but remdesivir is considered a front-runner in the race to develop a treatment for that works. • Cinema operator AMC Entertainment Holding Inc. AMC, +33.19% has enough liquidity to withstand suspension of operations until a partial reopening ahead of Thanksgiving. The company commenced a private offering of $500 million of first-lien notes due 2025. The company is currently generating effectively no revenue as all of its theaters have suspended operations through the end of June.
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