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Tenet Healthcare says spikes are manageable

The number of confirmed cases of the coronavirus around the world has now topped 8 million as the World Health Organization continues to warn that, while the virus has slowed in parts of Europe, it is gaining speed in other parts of the world, including parts of Africa and the Americas. More than 100,000 new cases are reported globally every day, the WHO said Monday.

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. 

  • Global cases: More than 8.06 million
  • Global deaths: At least 437,532
  • U.S. cases: More than 2.11 million
  • U.S. deaths: At least 116,127

The data above was compiled by Johns Hopkins University.

Former FDA chief Gottlieb says new steroid treatment could have ‘immediate impact’

11:40 a.m. ET — Dexamethasone, a cheap and widely available steroid, could have an “immediate impact” on how doctors treat Covid-19 patients, former Food and Drug Administration Commissioner Dr. Scott Gottlieb said.

A new study found the drug to effectively improve survival among severely sick Covid-19 patients.

“It’s going to probably have an immediate impact on what doctors are doing in the ICU setting,” Gottlieb said on CNBC’s “Squawk Box” in response to the news. “This is an important finding. It’s going to change dogma.”

The researchers of the study said it is the first drug to appear to improve survival among Covid-19 patients. There are still no treatments approved by the FDA to treat the disease, though Gilead’s remdesivir has received an emergency use authorization. —Will Feuer

Tenet Healthcare says new virus spikes are manageable

A medical worker puts a sample for COVID-19 antibody testing into a test tube.

Gavriil Grigorov | TASS via Getty Images

11:23 a.m. ET — Tenet Healthcare says the spike in Covid-19 cases in states like Arizona is not impeding the rebound in elective surgery at its hospitals, which are back to 95% of pre-coranvirus levels this month.

“We’re busy with Covid, but we’re not overwhelmed…. and we’ve put a lot of focus on really insuring Covid care zones are being separated from coded safe zones, and communicating that actively into the community and to the physician community, in particular, so they feel comfortable,” said Tenet COO Saum Sutaria on an update call with analysts.

Sutaria noted that new Covid-19 patients in markets where cases are rising tend to be younger, in their mid-30s to mid-60s, and require less intensive care treatment.

Tenet shares rose nearly 6% in opening trade but gave up those gains late morning. —Bertha Coombs

Homebuilder sentiment surges, showing a rebound from lockdown

11:06 a.m. ET — Homebuyer demand is up following a sudden drop at the beginning of the Covid-19 pandemic, CNBC’s Diana Olick reports.

Homebuilder sentiment went up 21 points in June to 58, the biggest monthly increase ever in the National Association of Home Builders/Wells Fargo Housing Market Index. Readings above 50 indicate a positive…

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2020-06-16 15:41:26

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