<p>Here’s what you need to know about the impact of Covid-19 to navigate the markets today.
• New York City Mayor Bill de Blasio said parents of students should “have a plan as early as Monday” in the event public schools in the city are closed due to a resurgence of Covid -19, according to an NBC New York report. Schools must be closed if the sliding positivity rate for Covid-19 tests increases to 3%. The city’s positivity rate rose to 2.83% on Friday, its highest level ever.
• The United States 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 United States, with the number increasing in 49 states. (Read more)
• New curfew rules ordered by New York Governor Cuomo went into effect Friday, including closing all bars, restaurants and gyms before 10 p.m., and a 10-person limit for indoor or outdoor gatherings in private residences.
• Disney announced that it had added 13.2 million subscribers to the Disney + streaming service during its fiscal fourth quarter, bringing its total paid subscriber base to 73.7 million. Rapid growth in streaming and rising revenue from cable TV networks partially offset the 23% drop in total sales from the previous year, as the Covid-19 pandemic resulted in theaters being closed and shutting down of some theme parks. Disneyland in Anaheim, California is among the parks that remain closed, while others, including Disney World in Orlando, operate at limited capacity. Disney lost 39 cents per share for the quarter, while revenue was down 23% from a year earlier to $ 14.7 billion, however, both exceeded consensus estimates. Shares were up 2% on Friday. (Read more)
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