Inventory futures are flat in entrance of huge tech’s income

Stock futures were flat in overnight trading Monday ahead of several mega-cap tech companies’ quarterly earnings reports.

Futures on the Dow Jones Industrial Average added 7 points, or 0.02%. S&P 500 futures and Nasdaq 100 futures traded near the flatline.

Tesla shares rose Monday after a better-than-expected earnings report for the second quarter after close of business. The electric vehicle maker topped a quarterly profit of $ 1 billion for the first time.

Major US stock averages closed Monday’s regular session at record highs on every notch of five-day winning streaks. The Dow gained 82.76 points, or 0.24%. The S&P 500 was also up 0.24% and the tech-heavy Nasdaq Composite closed 0.03% higher.

The earnings season for the second quarter continues, with Google parent Alphabet, Microsoft and Apple reporting after the bell on Tuesday.

“It seems we are going to make really solid profits from these companies, and that should bounce back a little bit of the market bounce,” said Victoria Fernandez, chief market strategist, Crossmark Global Investments.

“Apple may be your best chance to see some movement as the company has been in more of a consolidation phase for the past few months,” added Fernandez.

JetBlue, UPS, General Electric and Starbucks will also post profits on Tuesday.

The Federal Reserve’s two-day monetary policy meeting is also set to begin Tuesday. Investors are waiting for insights into the central bank’s monetary policy.

The Federal Reserve Open Market Committee and Board of Governors are expected to issue a statement after the session ends on Wednesday.

California is requiring proof of Covid vaccination for state staff

Frederic J. Brown | AFP | Getty Images

California will require state employees and some health-care workers to show proof of Covid-19 or face mandatory weekly testing, top state officials said Monday.

State employees will be required to submit documentation of their immunization by Aug. 2, according to a press release. Any state employees who aren’t vaccinated by then will be required to produce a negative Covid test at least once a week.

The new policy for health-care workers and congregate facilities takes effect Aug. 9, and health-care facilities will have to be in full compliance by Aug. 23, according to the release.

In state health-care facilities, employees who work in a hospital setting will be required to show proof of a Covid vaccine or produce negative coronavirus tests two times a week. Those who remain unvaccinated are recommended to wear N95 masks during work. Health-care workers in outpatient settings like dental offices will also be required to take a Covid test once a week.

“We’re at a point in this epidemic this pandemic where choice, individuals’ choice not to get vaccinated, is now impacting the rest of us in a profound and devastating and deadly way,” Gov. Gavin Newsom said in announcing the new order. “That choice has led to an increase in case rates, growing concern around increasing death rates and self evidently brought hospitalization rates.”

While the state already requires employees to disclose whether they’ve been vaccinated if they don’t want to wear masks indoors, they don’t have to produce documentation proving they are immunized. The new guidelines will require proof of vaccination for all state employees and mandatory testing for those who fail to provide proof.

“Our projections are sobering,” Newsom said, noting that state officials are forecasting a “significant increase in hospitalizations” over the next few weeks that will put pressure on local hospitals.

New York City Mayor Bill de Blasio recently introduced similar guidance for municipal employees and health-care workers, NBC New York reported. All personnel who fail to submit proof of vaccination by Sept. 13 must take a coronavirus test every week, and all unvaccinated employees must wear a mask at work beginning Aug. 2.

The San Francisco Bar Owner Alliance, which represents 500 bars in San Francisco, said it’s encouraging members to require customers to show a negative Covid test within 72 hours or proof of vaccination starting July 29. The group also said that guests who refuse to follow these requirements are “welcome to sit outside.” Individual bars will have the choice whether or not to enforce the requirements.

California saw an increase of 16% in vaccination rates over the last week as the delta variant rapidly spread across the state. It now accounts for roughly 80% of all newly sequenced cases in the state, health officials said.

Los Angeles County recently reimplemented its indoor mask mandate regardless of vaccination status.

When asked about a statewide mask mandate, Newsom said that the majority of Californians live in jurisdictions that either require or encourage mask use, “our focus is on vaccinations so there will be no need.” he said.

The U.S. Department of Veteran Affairs also announced Monday that it is requiring Covid vaccinations for all health-care personnel who work in Veterans Health Administration facilities.

“VA is taking this necessary step to keep the Veterans it serves safe,” the agency wrote on its website. It’s the first federal agency to mandate vaccinations and is giving employees eight weeks to get their shots.

In response to Biden, some qualify for state incapacity sources

US President Joe Biden signs a proclamation on the anniversary of the Americans with Disabilities Act (ADA), as (LR) artist Tyree Brown, Sen. Pat Leahy (D-VT), former MP Tony Coelho (D-CA), House Majority Leader Steny Hoyer (D-MD), U.S. Vice President Kamala Harris and House Representative Nancy Pelosi (D-CA) watch in the Rose Garden of the White House on July 26, 2021 in Washington, DC.

Anna Money Maker | Getty Images

President Joe Biden announced Monday that some Americans who have long-term effects from Covid may be eligible for disability resources and federal government protections.

The announcement came as the President celebrated the 31st anniversary of the Americans with Disabilities Act in a speech in the White House Rose Garden with Vice President Kamala Harris. It also happens that the long-term symptoms of the virus, what some refer to as “long covid”, are becoming a major public health problem.

“We are bringing agencies together to ensure that Americans with long Covid who have a disability have access to the rights and resources that are due under the Disability Act,” Biden said during his remarks.

Under the guidance of the Ministry of Health and the Ministry of Justice, Covid can for a long time be considered a disability under federal citizenship laws if it “significantly restricts one or more important life activities”.

This means that individuals with prolonged symptoms of Covid leading to disability are entitled to resources and protection from discrimination under state disability laws.

These safeguards include providing additional time for a test for students with difficulty concentrating, assisting with refueling at a gas station for a customer with joint or muscle pain, and allowing a person who is dizzy to be accompanied by a companion animal. Corporations and state or local governments may also need to make other changes to accommodate a person’s long-term Covid symptoms that lead to disability.

An individual assessment is required to determine whether a person with long covid is eligible for such protections and resources according to the guidelines.

Long Covid describes a wide range of new or persistent symptoms that can follow four or more weeks after a Covid infection, according to the Centers for Disease Control and Prevention. These include tiredness and exhaustion, joint or muscle pain, loss of taste or smell and fever.

Some people can also suffer damage to multiple organs, including the heart, lungs, kidneys, skin, and brain, according to the CDC. But long Covid symptoms are not consistent and it is not known how many people have the condition.

The Biden government has also released new guidance that addresses the needs of children with long covid who may be disabled. The guide issued by the Ministry of Education describes how schools and public institutions can provide services to children and students with long covid that leads to disability.

Additional efforts to assist Americans with long covid include new guidelines from HHS outlining community-based resources for people with the condition and a new Department of Labor website that includes resources for workers with long covid, such as: B. Information on employee benefits.

Most people who contract Covid recover within a few weeks, but reports of long-term Covid symptoms are increasing among Americans.

Research published by FAIR Health last month found that around 23% of nearly 2 million Covid patients developed at least one “ongoing or new” illness more than four weeks after their initial diagnosis.

Brother of Biden’s prime advisor sat for GM’s Government Workplace of President. on

United States President Joe Biden speaks during a cabinet meeting at the White House in Washington on July 20, 2021.

Jonathan Ernst | Reuters

The brother of one of President Joe Biden’s closest advisers was lobbying members of General Motors’ National Security Council during the second quarter, according to a new disclosure report audited by CNBC.

The report reveals that Jeff Ricchetti, the brother of White House advisor Steve Ricchetti, worked with the NSC on behalf of the auto giant on “China-related issues.” The company paid Ricchetti $ 60,000 for lobbying last quarter.

Jeff Ricchetti’s lobbying for the NSC, which is part of the president’s executive office, comes as he tries to publicly distance his work from his brother who, among other things, helped secure an infrastructure deal between the White House and senior lawmakers.

The NSC is presided over by the President himself and the Council can be attended by the Vice President, Foreign Secretary, Treasury Secretary, Chairman of the Joint Chiefs of Staff, Director of National Intelligence, and other senior administrative officials.

Ricchetti Inc., the company jointly founded by Jeff and Steve Ricchetti, had not yet lobbyed the National Security Council, according to the non-partisan Center for Responsive Politics.

Jeff Ricchetti said in an email to CNBC that he is no longer lobbying the White House office, which is currently run by Biden’s Chief of Staff Ron Klain. He failed to answer several other questions, including those he spoke to on behalf of GM on the National Security Council, and in particular what he was lobbying about on China.

There are several ways Ricchetti can access the White House without going through the White House office, including the National Security Council.

GM initially did not return a request for comment. Following the release, a company spokeswoman sent a statement to CNBC that did not address the details of Jeff Ricchetti’s work.

“Jeff Ricchetti and other lobbyists who have signed up on our behalf are helping GM advocate policies that support our customers, dealers and employees, strengthen our manufacturing presence in the United States, and our vision of a world without crashes, zero “Advance emissions and zero traffic jams,” said the spokeswoman.

The company had previously tried to convince the Trump administration to remove tariffs on its China-made Buick Envision vehicle. The previous government denied this request. The GM spokeswoman stated that Ricchetti had not spoken to the NSC about tariffs. General Motors CEO Mary Barra, along with other auto managers, had a virtual meeting with Biden to discuss a semiconductor die shortage.

The Biden administration has continued much of the Chinese trade policies implemented under Trump, including extensive tariffs on Chinese exports.

The recent disclosure of Ricchetti’s lobbying work has been a red flag for ethics professionals. Walter Shaub, the former director of the Office of Government Ethics under Obama and briefly under President Donald Trump, told CNBC in an email on Monday that Steve Ricchetti could easily tell his brother to stop messing with the executive office employ the president to avoid an ethical test.

“Jeff Ricchetti is not a government official, so Steve Ricchetti cannot control him, but he could at least publicly ask him to stop lobbying the president’s executive office,” said Shaub. “But that’s probably too much to hope for from a man who has apparently turned this administration into an employment agency for his offspring.”

Steve Ricchetti’s son JJ Ricchetti is one of a handful of his children who got jobs in the Biden administration.

“What these people do makes it harder to get the public to care about government ethics. Shoot, it makes it harder to convince them that something like this can even exist. Thanks for that, Ricchettis. I hope you enjoy the money. ”Shaub added.

A White House spokesman referred CNBC to the NSC, which did not return a request for comment.

White House Adviser Steven Ricchetti will be seen at the Capitol the day the Senate will vote on the For the People Act on Tuesday, June 22, 2021.

Tom Williams | CQ Roll Call, Inc. | Getty Images

The Wall Street Journal reported that Jeff Ricchetti raised nearly $ 1.7 million in fees for the first half of 2021, more than four times the amount his company paid for the same period last year.

CNBC first reported in April that Jeff Ricchetti was lobbying the President’s Executive Office on behalf of major healthcare companies in the first quarter of 2021.

Upon joining the new administration, ethics officials told CNBC that Steve Ricchetti himself would be under pressure to withdraw from some matters that may be related to his brother’s business. Steve Ricchetti eventually pulled out of anything to do with his brother or his extensive customer base.

CNBC also previously reported that Steve and Jeff Ricchetti are not talking about their separate professional careers.

Superb Equipment Offers at Nordstrom’s Anniversary Sale

We independently selected these deals and products because we love them, and we think you might like them at these prices. E! has affiliate relationships, so we may get a commission if you purchase something through our links. Items are sold by the retailer, not E!.

Nordstrom’s Anniversary Sale is undoubtedly one of our favorite times of the year. What’s not to like? There’s incredible deals across dozens of categories like apparel, beauty, shoes and home, plus exclusive styles you can’t get anywhere else. 

Today, we rounded up our top 10 accessories deals from the sale to give you some shopping inspiration. From designer bags and wallets to luggage and everyday jewelry, scroll below to start saving!

Trump pal Tom Barrack is just not responsible of the allegations of lobbying within the UAE

Thomas Barrack, a close adviser to former President Donald Trump and chairman of his inaugural committee, is coming to a trial in the Eastern District of New York District Court in downtown Brooklyn in New York City on July 26, 2021.

Michael M. Santiago | Getty Images

Private equity investor Thomas Barrack and a business partner pleaded Monday through their lawyers in Brooklyn, New York, on federal charges of illegal lobbying against his friend ex-President Donald Trump on behalf of the United Arab Emirates.

Barrack’s $ 250 million release guarantee was upheld by a judge during the indictment, where his next trial was scheduled for September 2.

Judge Sanket Bulsara also ordered Barrack, 74, to refrain from traveling in private planes and conducting foreign financial transactions and limiting his domestic financial transactions to $ 50,000 or less. And Bulsara told Barrack not to have any contact with UAE officials.

Barrack, who will live in his Aspen, Colorado residence, is only allowed to travel to Southern California to visit his children and to New York for court hearings. Compliance with travel restrictions is monitored by an electronic ankle cuff and GPS.

As he entered the courthouse before his indictment, Barrack was met by a man who struck up a sign that read “Traitor” in large black letters.

This is the same message – spread by what appears to be the same person – that Trump’s 2016 campaign chief Paul Manafort and his ally Roger Stone often welcomed during their federal criminal cases that ended in convictions.

Those convictions were later overturned when Trump pardoned both men shortly before he left office.

Thomas Barrack, a billionaire friend of Donald Trump who ran the former President’s Inaugural Fund, stands in this courtroom sketch during his hearing at the Brooklyn Federal Courthouse in Brooklyn, New York, United States, on July 26, 2021.

Jane Rosenberg | Reuters

In a post-prosecution statement, Barrack said, “Of course I am innocent of all of these allegations and we will prove it in court.”

“The most important thing to remember is that three miles from here in the middle of New York Harbor, the Statue of Liberty stands with a torch in hand, which means enlightenment, and welcomes the seven continents across the seven seas to the immigrant crowds to bring them to them to give them tolerance, freedom and justice, “said Barrack.

“My grandparents came here in 1896 and 1900 and from humble and simple beginnings they gave me everything America has to offer,” he said. “This statue is made of steel with a copper patina. We are in the middle of a very hot moment and I can only tell you that the hardest steel is forged from the hottest fire.”

Barrack had been jailed without bail until Friday when a federal judge released him on the $ 250 million bond, one of the largest criminal bailouts in history.

The bond is backed by $ 5 million in cash, more than $ 21 million in securities, and four properties. On Monday, Barrack’s son, ex-wife and a former business partner appeared on video on Monday to co-sign the release package and mortgage properties to secure the bond.

Prosecutors issued a detention memo last week that raised concerns that Barrack, given his Lebanese citizenship and access to a private jet, might flee to avoid charges. Barrack’s attorney told Bulsara on Monday that Barrack does not own a plane.

Former Trump campaign manager Paul Manafort (2nd R) arrives with his wife Kathleen Manafort (R) in the Albert V. Bryan US Courthouse to bring charges when a protester holds up a sign on March 8, 2018 in Alexandria, Virginia.

Alex Wong | Getty Images

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Barrack, who never registered with the American government as an agent for the oil-rich UAE, is also charged with obstruction of justice and multiple false statements during an interview with federal police officers in June 2019.

Prosecutors said that while Barrack represented the UAE’s interests in the Trump administration, he was informally advising U.S. officials on Middle East policy and seeking appointment to a senior role in the U.S. government, including serving as special envoy for the Middle East.

The indictment also accuses another man, UAE national Rashid Sultan Rashid Al Malik Alshahhi, 43, who remains at large.

Roger Stone, a longtime advisor to President Donald Trump, arrives at the Prettyman United States Courthouse before being indicted by Special Counsel Robert Mueller for lying to Congress and manipulating witnesses on January 29, 2019 in Washington, DC. Stone, a self-described “dirty political trickster,” said he was falsely accused and would plead “not guilty”.

Chip Somodevilla | Getty Images

Last Friday, Falcon Acquisition, a Barrack-backed acquisition special-purpose vehicle, withdrew its registration with the Securities and Exchange Commission, indicating it was abandoning proposed transactions.

The transactions included an IPO of 25 million shares to raise $ 250 million for the Falcon Acquisition, founded by Barracks Family Office Falcon Peak and TI Capital. The SPAC had planned to list its shares on the New York Stock Exchange.

Barrack stepped down as CEO of Colony Capital, a private equity firm he founded, in 2020. In April he stepped down as the company’s CEO.

– Additional coverage by CNBCs Brian Schwartz

Tesla, Zoom, Hasbro, Philips and extra

Zoom founder Eric Yuan speaks at the opening bell of Nasdaq on April 18, 2019 in New York City.

Hit by Betancur | Getty Images

Check out the companies that are making the headlines in midday trading.

Hasbro – The toy maker’s stocks rose more than 12% after beating the top and bottom lines of quarterly results. Hasbro reported earnings of $ 1.05 per share, according to Refinitiv, beating estimates by 58 cents. Revenue was $ 1.32 billion, compared to the $ 1.16 billion forecast by The Street.

Tesla – Tesla shares were up 3.4% at noon before the electric vehicle maker’s earnings report for the second quarter after the bell was released. Analysts expect key insights into the company’s business in China, Bitcoin inventories, full self-drive capability, and new manufacturing facilities in Germany and Texas.

Lockheed Martin – The defense company lost more than 3% in its share price after reporting quarterly earnings of $ 6.52 per share, missing analysts’ estimates by a cent, even though sales exceeded estimates. The results report also included a 61 cents fee related to performance issues with a classified program.

Zoom Video – The video conferencing company’s shares rose 3.7% Monday after the Bank of American named Zoom Video a top pick. The company announced to its customers that the takeover of Five9 by Zoom would be a “game changer” in corporate communications.

Lowe’s – The hardware store company’s stock fell 1.7% after Wedbush downgraded it from above-average to neutral and said the tailwinds were easing. “Supported by comments from major suppliers, we expect a leading indicator of a downturn to emerge this quarter,” said the Wedbush analyst.

Six Flags – Six Flags shares rose about 3.6% after Wedbush upgraded the stock from a neutral rating to an outperform rating. The company called Six Flags a “compelling” reopening game. “SIX represents a fascinating combination of massive underperformance during the course of the pandemic, manageable headwinds during the reopening and a significant but realistic margin improvement story after the pandemic,” the company said.

Gap – The retailer’s shares rose 2.3% after Deutsche Bank upgraded the stock to a buy rating. The company said Gap is “making a comeback in improving profitability”. Deutsche Bank has a target of $ 42 for the stock, which is 44% above its price, which closed on Friday.

PerkinElmer – PerkinElmer shares rose more than 3% after the life science company announced the acquisition of BioLegend, a provider of antibodies and reagents. The deal is valued at around $ 5.25 billion in a combination of cash and stocks. PerkinElmer said in a press release that the transaction will be the largest in the company’s history.

Philips – Philips stock fell about 4.2% despite the company reporting better-than-expected results for the second quarter. Dutch Health Technology added 250 million euros to a previous provision related to the recall of breathing equipment and ventilators.

Check Point – The software company’s stocks ticked 3.2% lower despite posting better-than-expected earnings and earnings before the bell. Check Point reported earnings of $ 1.61 per share on sales of $ 526 million. Wall Street estimated a profit of $ 1.56 on sales of $ 524 million, according to Refinitiv.

Didi Global – The shares of the Chinese driver service provider stabilized on Monday, falling over 2%. The stock fell more than 20% on Thursday and Friday and has fallen about 50% since July 1 as China cracks down on tech companies. On Monday, Atlantic Equities downgraded the stock to neutral, saying stocks would likely remain volatile for the remainder of the year.

TAL Education – TAL Education stocks continued to fall after reports on Friday that the Chinese government cracked down on educational institutions that included a ban on foreign investment. The share lost around 17% in midday trading. Goldman Sachs downgraded the stock to a neutral rating and Bank of America double downgraded the stock to an underperform rating. Both companies cited regulatory uncertainties for the Chinese education company.

Tencent Music Entertainment – The shares of the China-based music platform fell about 4.5% after Chinese regulators ordered the company to end its exclusive music licensing deals with global record labels within 30 days. Tencent Music has also been fined more than $ 77,000 by Chinese antitrust authorities. The stock is down more than 30% this month.

– CNBC’s Maggie Fitzgerald, Pippa Stevens, Jesse Pound, Tanaya Macheel and Yun Li contributed to the coverage

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Billboard publishes its listing of the 50 biggest producers of the 21st century

Give the names of these producers a little respite! When it comes to good music, artist and producer go hand in hand. The music is what can take any song to the next level! There’s always talk of who’s the greatest online, so it was right on time for Billboard’s staff to create and publish a list of their 50 greatest 21st century producers, filled with some of the best of the best. The producers on this list have created iconic sounds that cannot be duplicated. In addition, they created timeless music that will beat forever!

Timbaland, The Neptunes, Max Martin, The Dream, Tricky Stewart and Mike Will Made-It topped the list out of 50 well-known producers. GRAMMY award winner Timbaland has hits on hits! Some of his most notable songs are by the late Aaliyah, Missy Elliott, and Justin Timberlake. The Billboard staff described Timbaland’s sound as “fourth-dimensional funk, with rattling drums, squealing bass, unrecognizable and disembodied vocal hooks.”

The Neptunes secured their place by giving the world songs that have been transcended for generations. Like the hits from 2002 “Hot in Herre” by Nelly and “Grindin ‘” by The Clipse. Pharrell and his partner Chad Hugo always understand the mission!

The Dream and Tricky Stewart brought the world some of the best R&B songs ever! Her clientele ranges from Rihanna to Justin Bieber to Beyoncé. In 2008 their hit “Umbrella” got everyone singing along. Billboard breaks down their sound into chart-conquering jams and merges the two genres on an atomic level with zooming keys and gentle but haunting percussion.

Believing it to be the Millennials, Mike Will Made-It has raised the sounds of Future, Rae Sremmurd, and Miley Cyrus. Mike produced Rae Sremmurd’s Hot 100 smash hit “Black Beatles”, in which everyone competed in the Mannecan Challenge.

Of all the great producers on the list, pop music producer Max Martin came in at number one for working with Taylor Swift on one of the biggest albums of the 2010s.

Philip Morris says it might cease promoting cigarettes in Britain

A pack of Philip Morris International Inc. Marlboro Gold cigarettes seen in a Tobacco Store.

SOPA Images | LightRocket | Getty Images

LONDON — Tobacco group Philip Morris International has reportedly said it plans to stop selling cigarettes in the U.K. in 10 years’ time.

It could bring an end to the cigarette maker’s flagship Marlboro brand and comes two years after the U.K. government said it wanted to end smoking in England by 2030.

“I want to allow this company to leave smoking behind,” Philip Morris CEO Jacek Olczak said in an interview with the Mail on Sunday. “I think in the U.K., ten years from now maximum, you can completely solve the problem of smoking.”

When asked whether that meant the company would stop selling traditional cigarettes in the U.K. within that timeframe, Olczak replied: ‘”Absolutely.”

Campaign groups have highlighted that Philip Morris International has issued similar statements in the past only for very little to change. Philip Morris International’s former Chief Executive André Calantzopoulos said in 2016 that he hoped the company would stop selling cigarettes entirely.

Campaign groups also argue that tobacco giants, which have a long history of denying the health risks of smoking, are advocating themselves as part of the transition to a smoke-free world while also continuing to sell and promote cigarettes globally.

The World Health Organization describes the tobacco epidemic as “one of the biggest public health threats the world has ever faced.” The United Nations health agency says smoking, including second-hand, kills more than 8 million people per year.

“PMI can see a world without cigarettes — the sooner it happens, the better it is for everyone. Quitting is the best option, but for those who don’t, science and technology has allowed companies like ours to create better alternatives to continued smoking,” Moira Gilchrist, head of global scientific communications at Philip Morris International, told CNBC via email on Monday.

“Encouraging people who don’t quit to switch to these better alternatives, together with strong regulation will help solve the problem of cigarette smoking once and for all. With the right measures in place PMI can stop selling cigarettes in the UK in 10 years’ time,” Gilchrist said.

Speaking to CNBC’s “Closing Bell” last week, Olczak sought to defend the company after it announced intentions to buy British pharmaceutical company Vectura Group at an enterprise value of $1.2 billion.

The planned acquisition was criticized by anti-smoking groups and opposition lawmakers in the U.K., which deem a tie-up between a tobacco company and a company specializing in inhaled medicines for conditions such as asthma to be unfit.

“To be very frank, nothing and nobody will stop us in our transformation to leave cigarettes behind,” Olczak said.

— CNBC’s Pia Singh contributed to this report.

Dr. Scott Gottlieb says the UK-style delta-driven Covid spike may peak in three weeks within the US

Dr. Scott Gottlieb told CNBC on Monday that he expected the rising US coronavirus cases related to the highly communicable Delta variant to decline in the next two to three weeks, citing the decline in infections in the UK as evidence of this what could be happening in America.

England’s experience during the pandemic has been seen as a harbinger for the US and other countries, and provides insight into the later spread of new strains of the virus.

“I think the more observable trend is what is going on in the UK, where cases are clearly declining at this point. There is a very clear downward trend. It seems like it has peaked,” Gottlieb said in an interview with “Squawk Kasten.”

The seven-day average of new infections in the UK reached around 47,700 on July 18, after rising steadily from the end of May, according to government figures. The number of cases has decreased in the past few days, with 29,173 reported on Sunday.

“If the UK goes around the corner, that is a pretty good sign that we might be further on than we think and maybe two or three weeks away from seeing our own plateau here in the United States,” said Gottlieb, who headed the Food and Drug Administration commissioner in the Trump administration from 2017 to 2019.

One reason for Gottlieb’s view is that the coronavirus testing landscape in the US is different than it was in earlier stages of the pandemic. For example, he said that the results of home tests that are now available may not be reported to health officials, so “we don’t record all of our positive tests”.

“Many of the people who become symptomatic become more symptomatic because they are younger or have been vaccinated and simply become asymptomatic or slightly symptomatic. So these people do not present for testing,” added Gottlieb, who is on the board of directors at the Covid vaccine manufacturer Pfizer is seated.

According to a CNBC analysis of data from Johns Hopkins University, the weekly average of daily new infections in the US is close to 52,000. That’s 61% more than a week ago. On July 5, the seven-day average of the country’s daily new infections was just below 12,000.

The rising number of cases is causing US health officials to consider recommending the use of masks again for fully vaccinated people, according to Chief White House Medical Advisor Dr. Anthony Fauci.

“Our determination – the percentage of people who show up for testing and are actually recorded – is pretty low right now, so this wave of infections must be much more pervasive than what we discover, which means we are further into it than what we are discovering. what we discover we believe, “said Gottlieb.

Gottlieb said that “the only challenge” for the US, which starts in two to three weeks, is to see such a schedule coincide with time when many students go back to school.

“We’re going to turn a corner at the exact point where schools reopen, and my concern is that reopening schools could in cases cause some kind of second bump or look like a pattern where you see a decline and then it balances out because reopening the schools becomes a source of local transmission and we’re not getting out as fast as we would have, “he said.” That remains to be seen.

Disclosure: Scott Gottlieb is a CNBC employee and a member of the board of directors of Pfizer, genetic testing startup Tempus, health technology company Aetion Inc., and biotechnology company Illumina. He is also co-chair of the Healthy Sail Panel of Norwegian Cruise Line Holdings and Royal Caribbean.