Axios

The USS Theodore Roosevelt reported three cases of sailors contracting COVID-19 Tuesday, Navy officials said at a briefing — marking the first U.S. sailors to test positive aboard a Navy ship while at sea.

Where it stands: The ship is currently in the Philippine Sea, but the three sailors have been transported to an undisclosed U.S. medical facility. Other sailors on board who'd come in contact with the infected individuals have been quarantined accordingly.

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said at a coronavirus briefing Tuesday that President Trump's target date of Easter to ease social distancing is "really very flexible."

Why it matters: Trump's suggestion earlier Tuesday that he would order parts of the economy to be restarted by April 12 has sparked concern among health experts, many of whom warn that it could cause the number of coronavirus cases to skyrocket and overwhelm the health system.

Deborah Birx, the White House coronavirus coordinator, said on Tuesday it was "very critical" that individuals who have recently traveled from the New York metro area self-quarantine for 14 days to mitigate the spread of the novel coronavirus.

Why it matters: "We don't want that to be another seeding point to the rest of the country," Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said at the coronavirus task force briefing on Tuesday.

Most Americans approve of President Trump's handling of the novel coronavirus outbreak, and his overall approval rating has risen from 44% to 49% during the crisis, according to a Gallup poll.

Background: Trump has received criticism in the media, as well as from officials in Washington, D.C., and around the country, for downplaying the threat of the virus and for not taking stronger action to make tests available and ramp up production of necessary medical supplies.

Former President Jimmy Carter asked on Tuesday that potential Carter Center donations be used instead to help groups providing relief to those suffering from the coronavirus pandemic.

What's happening: In addition to the massive health implications of the outbreak, millions of Americans are facing potential unemployment as states, cities and counties direct residents to stay home to combat the spread of COVID-19.

America's new goalpost: Build tens of thousands of ventilators and assemble and reuse billions of face masks in the next few weeks to ward off some of the worst-case scenarios from the coronavirus pandemic.

Why it matters: We need to give medical professionals, first responders and essential personnel (like grocery store staff) every possible tool to treat the ill and avoid getting sick.

Immigration and Customs Enforcement announced Tuesday that the first detainee has tested positive for the novel coronavirus.

Why it matters: Immigration advocates have been pushing for the release of at-risk detainees to halt COVID-19's spread in their confined facilities. There are currently 17,785 immigrants in ICE custody with no pending criminal charges or convictions.

Stocks closed up more than 9% on Tuesday, marking yet another day of huge moves in the stock market amid the coronavirus pandemic.

Driving the news: Congressional leaders signaled that they're close to striking a deal on a massive stimulus package that will soften the blow for businesses and consumers as the pandemic threatens an unprecedented halt in economic activity.

2020 Democratic front-runner Joe Biden harshly criticized President Trump's suggestion on Tuesday that social distancing restrictions should be lifted by Easter, saying on CNN that the president should "stop talking and start listening to the medical experts."

Why it matters: Trump has been warned by his close advisers that the economy can’t sustain a shutdown for much longer, and he's weighing lifting restrictions in certain zip codes after the expiration of the White House's "15 Days to Slow the Spread" initiative. Health experts warn that this could lead to a drastic increase in coronavirus cases.

The trade groups representing hospitals, doctors and nurses called on the public today to stay at home to slow the spread of the new coronavirus.

Why it matters: Several states have issued similar directions — shuttering businesses, encouraging telework, closing schools and urging residents to stay isolated as much as possible. Health care providers are advocating for these measures because they want to stunt the spread of this disease and avoid the medical calamities that have unfolded in places like Iran and Italy.

President Trump said at a Fox News town hall Tuesday that he would "love" to have the country "opened up, and just raring to go" by Easter, or April 12, despite warnings from public health officials that easing social distancing restrictions too soon could cause the number of coronavirus cases to skyrocket.

Why it matters: Trump is becoming increasingly frustrated with the state of the economy, and he's begun to discuss options for reopening parts of the country that have been on lockdown to help stop the spread of the virus.

President Trump is itching to reopen America's economy, putting him at odds with medical experts. Dan digs in with Axios health care reporter Caitlin Owens.

Go deeper: Trump eyes back-to-work plan

Twitter said Tuesday that it's donating $1 million to the Committee to Protect Journalists and the International Women's Media Foundation ($500,000 each) to support newsrooms while covering the novel coronavirus.

Why it matters: Many newsrooms are struggling with how to balance covering the virus while ensuring the safety of their employees. Others are struggling to cover COVID-19 without the steady stream of ad revenue coming in during the pandemic.

New York Gov. Andrew Cuomo called on the federal government on Tuesday to supply ventilators, saying the state is in dire need of tens of thousands of machines to manage the coronavirus outbreak. The state expects to receive about 4,000 ventilators per Vice President Mike Pence.

Why it matters: New York state has become the U.S. epicenter of the pandemic, with 25,665 cases, and Cuomo said time is running out to wait on domestic production of medical supplies.

Up to 5,000 students will be allowed to return to Liberty University's campus this week, as the Lynchburg, Virginia, college bucks the national trend of school closures.

Details: Students' classes will resume online for the semester in compliance with a state ban on gatherings of more than 10 people. Unlike most of its counterparts across the country, however, Liberty's academic buildings, library and fitness center will remain open and students will return to residence halls.

We're living through the third financial crisis of the modern venture capital era, following the dotcom crash and the housing bust.

The big picture: There wasn't a widespread push for "fund size cuts" in 2008, save for a few efforts tied to funds that had closed just before Lehman went under. While it's too soon to know for sure which path LPs will take this time around, odds are that it will look similar — with already-raised fund sizes remaining static.

Speaker Nancy Pelosi told CNBC's Jim Cramer Tuesday that there is "real optimism" that a coronavirus stimulus deal could come together "in the next few hours."

Driving the news: One "big change" in the negotiations that Pelosi highlighted was the fact that Senate Republicans and the Trump administration agreed to House Democrats' oversight language for the $500 billion fund designed to help impacted industries.

States, local governments and restaurants are starting to pause plans to curb single-use plastics as they try and control the coronavirus outbreak, per Argus Media and the Wall Street Journal.

Driving the news: "The delays are in response to concerns that reusable bags and containers carry more risk of spreading the virus than single-use items, which are designed to be used once and thrown away," Argus reports.

Chevron this morning said it's slashing its planned 2020 capital spending by $4 billion — roughly 20% — and suspending share buybacks, making it the latest multinational giant to announce cutbacks as global oil demand craters.

The state of play: Chevron, the second-largest U.S.-based oil company, said around $2 billion of the cuts would be focused on shale, largely in the Permian Basin region.

The postponement of the 2020 Olympic Games to next year creates problems for advertisers, who could now potentially be facing a more crowded media calendar.

What they're saying: "Cancelled is actually the easier scenario than postponed because it's a definitive yes or no kind of thing," says Jon Swallen, CRO of the media division at Kantar, an advertising analytics company.

Big brand marketers that were depending on major sporting events to bolster their marketing plans suddenly need to switch course.

Why it matters: “Live sports might be off, but the audiences are very much on and, in fact, consuming even more TV while sheltered at home. It's all about where to find them," says Ashish Chordia, CEO of Alphonso, a television measurement company.

Ford Motor is bootstrapping ideas with GE Healthcare and 3M to help them dramatically increase their production of much-need medical supplies to fight the coronavirus.

Why it matters: Ford and other automakers specialize in cranking out cars in high volume, using global supply chains. That mass production expertise is critical as medical technology companies try to meet surging demand during the crisis.

Hollywood stars, confined to their houses, are turning to digital outlets to create new coronavirus-based shows and videos now that most of Hollywood production studios are shut down.

Exclusive: ATTN:, the progressive video news outlet aimed at millennials, is set to release several new lives series across Facebook and Instagram, featuring celebrities talking about the coronavirus.

The International Olympic Committee announced Tuesday that the Tokyo Summer Olympics were postponed until 2021 amid the coronavirus pandemic.

Why it matters: The Olympics entail a massive amount of travel, congregating and physical contact — all things that are being discouraged in order to curb the spread of the coronavirus. Multiple athletes and teams had already called for the committee to postpone the Games, which were scheduled to begin July 24.

Houseparty, the group video chat app recently acquired by Epic Games, is enjoying a resurgence in popularity as people are asked to remain home to help curb the spread of the coronavirus.

The big picture: Video chat apps across the board saw an uptick in new downloads as consumers look to communicate with friends and family (and even colleagues) online.

The backup in global supply chains plus a manufacturing and transportation sector already weakened by the U.S.-China trade war are combining to slow the rate of goods deliveries to nearly double their normal times.

What's happening: "Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most affected areas, such as Italy," Reuters reports.

U.S. Treasury yields on one-, two- and three-month maturities all turned negative late Monday, as investors continued to favor short-term debt that functions like cash.

What it means: “What you are seeing today is an example of a flight-to-safety on a massive scale,” Kathy Jones, chief fixed-income strategist at Charles Schwab, told FT on Wednesday when yields first fell below zero.

Nearly two-thirds of Americans say their access to household goods has worsened in the past week, a new poll from Ipsos and Axios shows.

The state of play: The second installment of the Axios-Ipsos Coronavirus Index also finds that nearly a quarter of all respondents say their ability to afford food and household needs has worsened, up from 15% last week.

While President Trump has waffled on coronavirus and the Senate and House of Representatives have bickered over how best to deploy a fiscal response, the Federal Reserve has unleashed an onslaught of monetary policy power.

What happened: Having fired the full arsenal it deployed during the 2007–2009 global financial crisis in a matter of weeks, the Fed has committed to trillions in buying. And, it now promises unlimited purchases of U.S. government debt and mortgage-backed securities as well as municipal and corporate bond buys.

With sports shut down almost universally, the two best baseball leagues outside MLB — Japan's NPB and South Korea's KBO — are still soldiering on, with numerous restrictions and safety measures in place, of course.

The state of play: NPB teams are playing preseason games in empty stadiums, and the league just set April 24 as the target date for its regular season to begin (likely without fans). KBO teams are playing intrasquad scrimmages while the league's preseason is suspended, but like MLB, its regular season start date remains a mystery.

Harris Blitzer Sports & Entertainment, the sports and entertainment group that owns the Philadelphia 76ers and New Jersey Devils, has notified full-time employees making $50,000 or more that they will be subject to pay cuts starting as soon as next month due to the coronavirus fallout.

The response: Not great, as you might expect. Ownership considers this a "temporary measure aimed at avoiding layoffs," per NYT's Marc Stein, but fans aren't buying it.

Health care workers and scientists have been sending in hundreds of suggestions, through for how hospitals and clinicians can conserve their supplies of masks and other protective gear via the Journal of the American Medical Association.

Why it matters: Hospitals are either out of these supplies already or will be soon enough, so crowdsourcing ideas of how to stem the shortages could save lives.

President Trump egged on by a growing number of advisers and business leaders, believes the economy will crater absent a strong signal, and wants to stagger the reopening of work nationwide, people who’ve spoken to him tell Axios.

Behind the scenes: Trump has been hearing from lots of people in the business community and conservative media telling him the economy can't survive this shutdown much longer. The sources say that "horrific," "truly scary" economic consequences were described to Trump.

Misinformation and mixed messages from leaders are compounding people's natural fear about the pandemic from the new coronavirus and diverting their attention from the steps scientists say are needed to quell the outbreak.

Why it matters: Even the best-case scenario is dire for Americans, and that's based on social distancing and other measures having the chance to take effect.

News consumption has skyrocketed in the U.S. over the past few weeks due to the coronavirus, according to TV ratings, web traffic, app downloads and social media interactions.

Why it matters: Without live sports and with Hollywood production put on pause, consumers are confined to the only type of new professional-grade content that's still being produced daily: news.

The response to the coronavirus outbreak is increasingly taxing Americans' mental and emotional health, according to the second installment of our Axios-Ipsos Coronavirus Index.

By the numbers: Last week, just 29% of the people we surveyed said their emotional well-being had gotten worse lately. This week, that's up to 43% — compared with a much more modest increase in the number of people who said their physical health has deteriorated.

In just four days, General Motors fast-tracked a plan to help a stretched medical device company build 200,000 badly needed ventilators to treat coronavirus patients.

Why it matters: It's not only a symbol of GM's significant industrial might 11 years after a government-brokered bankruptcy. It also shows how President Trump is squeezing American businesses to act.

Lobbyists are racing to grab a piece of a federal stimulus package that could top $2 trillion.

The big picture: Every industry, company and niche group affected by the virus, including some that have never lobbied before, is jockeying to get federal funding and approval for pet projects — making federal lobbying one of the few boom industries right now.

Nine in 10 Americans are now concerned about the coronavirus, according to the latest Axios-Ipsos Coronavirus Index — with half worried about their jobs and their ability to pay the bills.

Why it matters: The second installment of our weekly survey shows sudden, massive changes to how we work, shop, socialize and care for ourselves and our families. The numbers also reflect an overwhelming sentiment that things are getting worse.

President Trump is eager to ease off of stringent coronavirus mitigation steps “soon,” he said yesterday, but that would have a calamitous impact on Americans’ health — and it’s not clear how much it would help the economy, either.

Why it matters: For now, the only way to avoid large numbers of deaths is to keep people away from each other to stop the virus' spread. And as long as the coronavirus is spreading, it’s likely to hurt the economy.

Health officials and two state governors are pushing back after President Trump's suggested Monday that physical distancing restrictions introduced to clamp down on the spread of the novel coronavirus will be lifted "fairly soon."

The big picture: Trump told a briefing, "If it were up to the doctors, they may say let's keep it shut down — let's shut down the entire world." The president added that the U.S. "wasn't built to be shut down."

Health officials in China said Tuesday they will soon allow transportation into and out of Hubei province, where the novel coronavirus was discovered.

Why it matters: The announcement, effective on April 8 for virus epicenter Wuhan and this Thursday elsewhere in the province, essentially ends the mass quarantine of residents who've been on lockdown since January.

Traces of the novel coronavirus were found in the cabins on the Diamond Princess cruise ship up to 17 days after passengers left, a study published by the CDC Monday found.

Why it matters: Axios health care editor Sam Baker notes: "The virus lives a long time on hard surfaces, and that's another reason to be wary about quickly reopening businesses like bars, restaurants and gyms while the virus is still spreading quickly."

President Trump said Federal Reserve chair Jerome Powell has "really stepped up," offering rare praise during a press conference on Monday.

Why it matters: It marks a big shift in Trump's tone on Powell — who he's bashed for months — after a series of measures announced by the Fed in recent days to ease the economic fallout from the coronavirus.

The U.S. Olympic and Paralympic Committee issued a statement Monday evening calling on this summer's Tokyo Games to be postponed over the novel coronavirus outbreak.

The big picture: The call came a day after Canada and Australia made similar calls and announced they would not send athletes to the Games and as International Olympic Committee member Dick Pound told USA Today Monday "on the basis of the information the IOC has, postponement has been decided."

Washington Gov. Jay Inslee announced via Twitter Monday evening that he's issued a stay-at-home order, effective immediately, to curb the spread of the novel coronavirus.

Details: "This order is enforceable by law, but the legal penalties are not what should convince people to follow these orders," Inslee tweeted. "The real penalty may be the loss of a loved one to COVID-19. There are 110 Washington families who can tell you what the pain of that loss feels like."

Italy recorded 602 deaths on Monday from the coronavirus — a staggering total that could nonetheless be some cause for hope because it's the second day of decline from Saturday's high of 793.

The big picture: Monday marks two weeks since Italy entered a nationwide lockdown, with officials warning at the time that we wouldn't get a sense of how effective the measures had been until right about now.