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Governments and health officials are trying to strike a balance between reopening economies and staving off a second wave of infections. Meanwhile drugmaker Moderna received a “crucial” FDA approval for phase 2 trials of its vaccine candidate. Weekly jobless claims data lies ahead. 

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 3.7 million 
  • Global deaths: At least 264,111
  • US cases: More than 1.2 million
  • US deaths: At least 73,431

The data above was compiled by Johns Hopkins University.

7:41 am: FDA approves Moderna vaccine for phase 2 study

The Food and Drug Administration approved a Covid-19 vaccine candidate from drugmaker Moderna to enter a phase 2 trial. 

The trial will involve 600 participants and stands as a “crucial step” toward potential full clearance of a first batch as early as 2021, the company said. Shares of Moderna surged on the news. 

Read more about Moderna’s announcement and forthcoming trial from CNBC’s Will Feuer. —Sara Salinas

6:20 am: German officials caution the crisis is not over yet

German officials have warned that the coronavirus crisis is not over yet, despite efforts to increasingly open up its economy and public life as the number of new infections trends downward.

“We are not living after the pandemic now — rather we are living in the middle of a pandemic, one that will be with us for a while — at least for this year and that’s being very optimistic,” Helge Braun, Chancellor Angela Merkel’s chief of staff, told Deutschlandfunk radio, according to a Reuters report.

Germany has recorded 168,162 confirmed cases of the virus, and 7,275 deaths, far fewer fatalities than other western European countries including France, Italy, Spain and the U.K.

Meanwhile, Lars Schaade, vice president of the Robert Koch Institute (RKI) of infectious diseases, warned that it was possible that the country could see a “second wave” of infections as restrictions are lifted and “when human behavior becomes relaxed again so that there is a higher number of transmissions.”

Germany started to lift restrictions several weeks ago, allowing smaller shops to reopen. Schools reopened earlier this week. Chancellor Angela Merkel has launched an “emergency brake” mechanism allowing for renewed restrictions in case infections pick up again. —Holly Ellyatt

Read CNBC’s coverage from CNBC’s Asia-Pacific and Europe teams overnight here: Russia posts record daily new cases, UK economy could shrink 14% this year

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