A patient is transported outside of Tisch Hospital in New York on Nov. 13. (Photo by KENA BETANCUR/AFP via Getty Images)
AFP via Getty ImagesHere’s what you need to know about the impact of Covid-19 to navigate the markets today.
• New YorkCity Mayor Bill de Blasio said parents of students should “have a plan as early as Monday” in the event that the city’s public schools are closed due to a resurgence of Covid-19, according to an NBC New York report. The schools are required to be closed if the rolling positivity rate for Covid-19 testing rises to 3%. The city’s positivity rate rose to 2.83% on Friday—its highest level ever.
• The U.S. continued to set daily records for new Covid-19 cases, with 163,405 on Thursday, according to a New York Times tracker. Over the past seven days, there has been an average of 134,078 new cases in the U.S., with the count rising in 49 states. (read more)
• New curfew rules ordered by New York Gov. Cuomo went into effect on Friday, including the closing of all bars, restaurants, and gyms by 10 p.m., and a limit on indoor or outdoor gatherings at private residences to 10 people.
• Disney said it added13.2 million subscribers for the Disney + streaming service during its fiscal fourth quarter, bringing its total paid subscriber base to 73.7 million. The rapid growth for streaming and rising cable television network revenue helped to partially offset a 23% decline in total sales from a year earlier, as the Covid-19 pandemic kept movie theaters closed and some theme parks shut. Disneyland in Anaheim, Calif., is among the parks that remain closed, while others, including Disney World in Orlando, have been operating at limited capacity. Disney lost 39 cents a share for the quarter, while revenue was down $23% from a year earlier to $14.7 billion, however, both came in ahead of consensus estimates. The shares were up 2% in trading on Friday. (read more)
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