CNBC Business

A potential coronavirus vaccine developed in China appeared to provoke neutralizing antibodies in dozens of patients in an early-stage clinical trial, an important step in developing a vaccine that might provide immunity to Covid-19.

Ark Invest, the firm known for its $7,000 price target on the stock of Tesla, has faced some disbelief for selling shares of the electric auto maker.

"I don't want people to think that any of us feel that staying locked down for a prolonged period of time is the way to go," he tells CNBC.

Hospitals have restarted elective surgery and diagnostic procedures this month and are seeing strong demand from patients rescheduling cases, but executives worry about the pipeline for new procedures, once they've worked the through the backlog.

The state reported 225 new Covid-19 cases on Thursday, based on a three-day rolling average, which is at a "level now that is lower than we first began," Gov. Andrew Cuomo said at his daily press briefing.

Check out the companies making headlines in midday trading on Friday.

Some people are dipping into stocks as an outlet for competition and betting as professional sports are on hold due to Covid-19.

"Now we can't be complacent coming off the summer, heading into the fall, when the risk is going to be very different," former FDA chief Dr. Scott Gottlieb told CNBC

Slightly more than half of the 129 countries reporting data to the World Health Organization, UNICEF, Gavi and the Sabin Vaccine Institute indicated that routine childhood immunization services were moderately to severely disrupted, or were totally suspended, from March to April.

A Pakistan International Airlines passenger plane crashed near the Jinnah International Airport in Karachi, according to the civil aviation authority.

Dr. Anthony Fauci also said any timeline for a vaccine is "never a promise."

Patients who took the drug or chloroquine were also more likely to develop irregular heart rhythms, researchers said.

The number of newly reported coronavirus cases worldwide hit a daily record this week at more than 100,000 new cases over a 24-hour span.

"If we're going to continue our great renaissance as a city, we're going to have to open up more streets and public space to restaurants or … they're not going to survive," Cincinnati Mayor John Cranley said.

With the three-day Memorial Day weekend marking the first big sales push since the coronavirus crisis took hold, shoppers can expect to find deals aplenty as states reopen and dealerships look to rebound from a dismal April.

The coronavirus has now infected more than 5 million people across the globe and more than 1.57 million in the U.S., according to data from Johns Hopkins University.

U.S. stock futures rose after Dr. Anthony Fauci told NPR that Moderna's vaccine data looked "promising."

With more than 38 million Americans out of work since the coronavirus pandemic began, the importance of a financial first-aid kit has never been more apparent.

The speed and scale of new coronavirus cases in Brazil mean it is likely to overtake Russia when it updates its figures later in the day.

Blue Apron's meal-kit delivery business has been up and down since its 2017 IPO, and its shares fell as low as $2 in March. Can the coronavirus delivery surge set the company on a surer path?