Coronavirus Update: Democrats and Republicans Fail to Reach Stimulus Deal, Talks Will Continue - TheStreet

Coronavirus Update: Democrats and Republicans Fail to Reach Stimulus Deal, Talks Will Continue

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According to Johns Hopkins, There are over 33.7 million cases of the virus worldwide, with over one million deaths.

The U.S. has surpassed 7.1 million cases with 206,000 deaths.

Per the COVID-19 Tracking Project, there were 36,947 new cases reported Monday, which is slightly higher than the 36,524 cases reported the day earlier. 812,773 new tests were reported. And 739 deaths were reported yesterday, which is higher than the 257 deaths reported the day prior.

Treasury Secretary Steven Mnuchin indicated he expects to reach an agreement on a stimulus package with House Speaker Nancy Pelosi, which was working to boost the markets Wednesday.

Mnuchin said that he would be speaking with Pelosi Wednesday afternoon. He said he hopes by Thursday to reach an “understanding” with Pelosi on a relief package.

Mnuchin said, “I say we’re going to give it one more serious try to get this done and I think we’re hopeful that we can get something done...I think there is a reasonable compromise here.”

And both Moderna and Regeneron were up on positive drug news around COVID-19.

Moderna’s vaccine candidate said that early-stage data indicated that its coronavirus vaccine candidate could generate neutralizing antibodies in older and elderly adults at levels comparable to younger adults.

On the other hand, Regeneron reported early-stage results that showed its antibody cocktail may treat coronavirus patients outside of the hospital by reducing virus loads and symptoms. However, the clinical trial consisted of 275 patients, but did have lower virus levels in the bloodstream seven days later compared with patients who received a placebo, the company said in a statement released late Tuesday.

And Axios and New York Times are reporting that Centers for Disease Control Director Robert Redfield was overruled by the White House when trying to extend the “no-sail order” on passenger cruise ships to February 2021. Carnival, Royal Caribbean and Norwegian are trading higher in intraday trading.

You can follow Katherine Ross on Twitter at @byKatherineRoss.

Read more from Katherine Ross here.

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