Coronavirus live updates: Shoppers inundate Costco, New York boosts testing

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All times below are in Eastern time.

  • Total confirmed cases: More than 89,100
  • Total deaths: At least 3,040

Shoppers lined up in throngs at Costco stores across the country this weekend, stocking up on cases of water, trail and rice mixes, paper towels, and other essentials in bulk, amid the deadly coronavirus outbreak. At least one analyst is already anticipating Costco’s sales will see a boost, as a result, sending shares higher. The stock was up more than 6% Monday morning. An Oregon Costco location over the weekend ran out of toilet paper for the first time in its history, according to a local report. —Thomas

New York state and city officials said they are increasing testing for the coronavirus and implementing a new cleaning protocol for schools, public transportation systems, and senior citizen facilities after confirming the state’s first case on Sunday. Gov. Andrew Cuomo said he also wants to ramp the state’s testing capacity up to 1,000 tests per day. “Test as many as you can and then isolate the people so you can reduce the spread,” he said in a press conference. —Kopecki

U.S. airline stocks were left out of a modest stock-market recovery Monday, hitting fresh multi-year lows as new travel restrictions and advisories prompted them to cut more routes as the busier spring and summer travel seasons approach. United Airlines has paused new-pilot training, postponed its investor day scheduled for this week, and is offering pilots a month off at reduced pay. The airline has reduced service throughout Asia and CEO Oscar Munoz over the weekend warned employees about further flight cuts. Shares fell about 5% to the lowest level since September 2017. American and Delta, which have suspended flights to Milan due to the outbreak in Italy, were down 6% and 2%, respectively. —Josephs

The New York Times Company says it’s seeing a slowdown in advertising bookings due to “uncertainty and anxiety” caused by the coronavirus, according to a regulatory filing. The company said it has “begun to see see some economic impact” from the virus. The New York Times Company’s CEO and President Mark Thompson plans to comment on the virus’ impact Monday morning at the Morgan Stanley Technology, Media and Telecom Conference, the filing says. —Graham

Source: https://www.cnbc.com/2020/03/02/coronavirus-latest-updates-outbreak.html

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