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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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A coronavirus patient in Queens. Photo: Kena Betancur/Getty Images

There's some hope the wave of coronavirus cases in New York City, the hardest-hit area of the country, is starting to plateau.

The big picture: Deaths keep rising, but hospitalizations, intensive care unit admissions and intubations have mostly been stagnant or declining in recent days.

What they're saying: New York Gov. Andrew Cuomo said Tuesday that social distancing measures appear to be helping drive down the number of coronavirus patients who need serious hospital care, but that trend "still depends on what we do, and what we do will affect those numbers."

  • However, new data released Tuesday night by city officials throws a wrench in some of the optimism. Hospitalizations appear to have risen, although it's unclear whether that includes delayed reporting.

Many New York City hospitals are still struggling to care for the influx of patients, but hope this week will be the turning point.

  • "It looks like it's flattening," Steven Corwin, CEO of NewYork-Presbyterian, told Axios. His hospital system was treating 2,300 COVID-19 patients as of Tuesday, 630 of whom were on a ventilator in an ICU. "We'll really know in another three or four days whether that trend continues."

Yes, but: Health care workers are continuing to work with limited protective gear, and the extraordinary caseload has stretched doctors, critical care nurses, respiratory therapists and other essential hospital staff.

  • Corwin said he is less concerned now about the supply of N95 masks and surgical masks and more concerned about protective gowns, which are in short supply due to a gown recall from Cardinal Health earlier this year and slow production from China.

The bottom line: Even if coronavirus cases are close to peaking in New York, this is far from over. A lot of hardship and death is still to come, both in New York and in other places that have not practiced aggressive social distancing.

Go deeper

Updated 25 mins ago - Economy & Business

The billionaire balloon

Data: World Inequality Report 2022; Chart: Axios Visuals

The super-rich are getting stupid rich: New data out today shows the share of global wealth held by the richest slice of humanity swelled by almost a full percentage point during the pandemic.

Driving the news: The top 0.01% of individuals now hold about 11% of the world's wealth, compared to just over 10% in 2020, according to the "World Inequality Report 2022," written by Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman.

Tina Reed, author of Vitals
26 mins ago - Health

Omicron gives a shot to boosters

Expand chart
Data: CDC; Chart: Will Chase/Axios

Vaccination rates have ticked higher since the discovery of the Omicron variant, CDC data shows.

By the numbers: The seven-day average for vaccinations in the U.S. reached about 1.8 million on Monday, up from an average of about 1.3 million a month ago.

Scoop: Over 200 papers quietly sue Big Tech

Illustration: Allie Carl/Axios

Newspapers all over the country have been quietly filing antitrust lawsuits against Google and Facebook for the past year, alleging the two firms monopolized the digital ad market for revenue that would otherwise go to local news. 

Why it matters: What started as a small-town effort to take a stand against Big Tech has turned into a national movement, with over 200 newspapers involved across dozens of states.