The United States expects to administer the first shots of Johnson & Johnson’s Covid-19 vaccine Tuesday. The single-shot vaccine is a welcome tool as Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, warns states’ decisions to roll back Covid-19 restrictions could reverse the downward trajectory in U.S. infections.
Covid live updates: Pandemic trends and stimulus boost Target earnings; EU interested in Russia’s vaccine
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks.
The U.S. is recording at least 67,700 new Covid-19 cases and at least 2,000 virus-related deaths each day, based on a seven-day average calculated by CNBC using Johns Hopkins University data.
The following data was compiled by Johns Hopkins University:
Global cases: More than 114.49 million
Global deaths: At least 2.54 million
U.S. cases: More than 28.66 million
U.S. deaths: At least 514,660
How pandemic-driven demand for electronics led to chip shortage
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Semiconductors are a key component of nearly every electronic device we buy and use. And now, there aren’t enough of them being made, reports CNBC’s Jeff Morganteen.
Semiconductor company CEOs and analysts say the chip shortage will persist well into 2021 and President Joe Biden has ordered economic and national security experts to look for gaps in the semiconductor supply chain in the United States.
—Melodie Warner
Germany plans to extend coronavirus lockdown
A sign that reminds clients to keep 1.5m distance in a clothes store as they open for the first time since March during the coronavirus (COVID-19) pandemic on April 22, 2020 in Berlin, Germany.
Maja Hitij | Getty Images
Germany plans to extend its coronavirus lockdown until March 28, but will allow small private gatherings from Monday, Reuters reported.
Under the draft agreement, which still has to be agreed upon on Wednesday, florists, book and gardening shops will be able to reopen and other retailers can operate in regions that meet specific infection levels, according to Reuters.
Germany will ask citizens to avoid travel over the Easter holidays, but will make exceptions for small family gatherings during the holidays, according to the draft seen by Reuters.
—Melodie Warner
Russia’s Covid vaccine is proving attractive to its allies in Eastern Europe
As the European Union struggles to ramp up its rollout of coronavirus vaccines across the 27 member bloc, Russia’s Covid shot is proving alluring to its friends in Eastern Europe, creating another potential rift in the region.
The Czech Republic, Austria, Hungary and Slovakia have all expressed interest in procuring and deploying Russia’s “Sputnik V” vaccine, a move that could undermine an EU-wide approach to approving and administering coronavirus vaccines.
Czech Prime Minister Andrej Babis said on Sunday that his country could use the Sputnik V vaccine even without approval by the EU’s drugs agency, the European Medicines Agency.
The pivot towards Russia’s vaccine comes amid widespread frustration at the slow speed of the EU’s vaccination rollout. It’s been hampered by the bloc’s decision to purchase vaccines jointly, and its orders came later than other countries, including the U.K. and U.S.
—Holly Ellyatt
Target’s fourth-quarter earnings benefit from pandemic trends
A shopper wearing a face mask due to the coronavirus disease (COVID-19) pandemic browses toys at a Target store in King of Prussia, Pennsylvania, November 20, 2020.
Mark Makela | Reuters
Target benefited from a familiar script in the fourth quarter: It attracted consumers by offering convenient and contactless ways to shop during the pandemic.
The big-box retailer exceeded Wall Street’s expectations for earnings, as it got a lift from strong holiday sales. It gained momentum in January as Americans received stimulus checks. Comparable sales, a key metric that tracks sales at stores open at least 13 months and online, rose 20.5% compared with a year earlier.
Target has attracted new customers and inspired more purchases with its e-commerce offerings and wide range of merchandise, from cereal to workout pants, as competitors like Macy’s and Kohl’s temporarily closed stores and saw sales decline during the global health crisis. The big-box retailer said it gained about $9 billion in market share in the fiscal year, citing internal and third-party research.
Even so, the company declined to provide a forecast for the year ahead, citing uncertainty because of the pandemic.
—Melissa Repko
Read CNBC’s previous live coverage here:
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