Texas and Florida pause reopening more business as cases surge

Texas continues to set new daily records for cases and hospitalizations, and the state is now pausing its reopening efforts to “corral the spread,” according to Texas Gov. Greg Abbott. The U.S. reported more new coronavirus cases on Wednesday than on any single day before, according to a tally by NBC News, as the virus spreads to new communities and sparks outbreaks mostly across the American South and West.

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 9.59 million
  • Global deaths: At least 488,824
  • U.S. cases: More than 2.42 million
  • U.S. deaths: At least 124,402

The data above was compiled by Johns Hopkins University.

Release of Christopher Nolan film ‘Tenet’ gets pushed back again

11:28 a.m. Singapore time — For the second time, Warner Bros. is forced to postponed the release of Christopher Nolan’s “Tenet” due to the coronavirus outbreak. 

The spy drama starring John David Washington and Robert Pattinson is now set to debut on Aug. 12, a Wednesday. It was originally scheduled for release on July 17, before the debut was postponed to July 31.

Warner Bros. has also delayed the 10th anniversary release of Nolan’s “Inception” from July 17 to July 31. 

Many movie theaters across the U.S. remain shut as cases of Covid-19 have continued to climb. On Wednesday, 12 U.S. states reported record spikes in daily new coronavirus cases. —Sara Whitten

Fed caps dividend payments for big banks over pandemic concerns

5:22 p.m. ET — The Federal Reserve is suspending share buybacks and capping dividend payments for the big banks at their current levels through the third quarter of the year.

The decision comes after an annual stress test of 34 banks found the coronavirus pandemic could push some institutions dangerously close to minimum capital levels.

The Fed studied how major banks would fare in a quick V-shaped recovery, a more drawn out U-shaped recession and recovery, and a W-shaped double dip recession. 

Several banks “would approach minimum capital levels” under the harsher U- and W-shaped scenarios, the Fed found. The central bank didn’t disclose which banks would have the most problems. —Spencer Kimball, Hugh Son 

Florida governor says state has no plan of continuing its reopening

4:41 p.m. ET — When asked about Florida’s reopening, Gov. Ron DeSantis said that the state doesn’t have plans for continuing its step-by-step plan. He added that the state “never anticipated” to continue moving forward at this point.

“We are where we are. I didn’t say we were going to go on to the next phase,” DeSantis said at a news briefing. His comments come shortly after Texas Gov. Greg Abbott announced he would pause reopening plans for his state as coronavirus cases and hospitalizations continue to climb.

Florida is averaging about 3,756 daily new cases as of Wednesday, which is about a 71% increase since one week ago, according to a CNBC analysis…

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