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President Joe Biden unveiled his strategy for combatting the coronavirus, including triggering the Defense Production Act. But he also warned that—while U.S. infections in this latest wave may have peaked—the coronavirus will kill another 100,000 Americans by this time next month, surpassing a half million dead. Globally, the spread of Covid-19 continues unchecked. German fatalities passed 50,000 while the U.K. suffered its worst day of the pandemic. The British prime minister’s chief scientific adviser said some hospitals look “like a war zone.” —David E. Rovella

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America. 

Here are today’s top stories  

Johnson & Johnson has sufficient data from its late-stage Covid-19 vaccine trial to begin analysis soon, Anthony Fauci, the U.S. government’s top infectious disease doctor, said Thursday. The nation is struggling to dole out shots of the two vaccines currently approved for use, made by Pfizer-BioNTech and Moderna. Meanwhile, Fauci says he feels somewhat liberated. Here is the latest on the pandemic.

The first full day of the Biden administration, like his inauguration, was a combination of extraordinary and typical. After a battery of executive orders, the Democrat is poised to suspend the sale of oil and gas leases on federal land after nixing the Keystone pipeline. But his $1.9 trillion Covid-19 rescue package ran into trouble almost immediately. Minority Leader Mitch McConnell said he’ll pull support for a Senate power-sharing agreement unless Democrats, who just barely control the chamber, vow to preserve the filibuster. As for the attack on the Capitol, House Speaker Nancy Pelosi said former President Donald Trump’s impeachment will be sent to the Senate for trial soon.

Photographer: Justin Sullivan/Getty Images North America

Photographer: Justin Sullivan/Getty Images North America

Still, Wall Street seems to think a third bailout package is coming. U.S. stocks closed at a new record with tech shares lifting major indexes on anticipation more fiscal spending will revive economic growth and bolster corporate earnings. Here is the markets wrap.

In her responses to questions from Congress, Treasury Secretary-nominee Janet Yellen said that, when it comes to the prime beneficiaries of the 2017 Republican tax overhaul, tax increases are coming.

Janet Yellen at President Joe Biden's inauguration in Washington on Jan. 20.

Photographer: Kevin Dietsch/UPI

Bitcoin plunged more than 10% Thursday, sparking a hunt for the latest reasons the notoriously volatile asset was selling off. One potential suspect was the very viability of the token itself.

The analysts at Bloomberg Intelligence—who track about 2,000 companies in fields including finance, retail, energy, and technology—have identified 50 worth watching carefully in the year ahead. Here they are.

In quitting the European Union, the U.K. has handed its former partners a golden opportunity: Seize some of the lucrative financial services business that London has long dominated. The Bloomberg Editorial Board warns that it’s a temptation European officials would do well to resist.

What you’ll need to know tomorrow 

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Now Is the Time for Deals on Points and Miles

The beginning of a new year is always a good time to rethink your travel rewards strategy—but never more so than in 2021. With the travel industry experiencing continued disruption from the pandemic, and botched vaccine rollouts threatening to extend border closures even longer than expected, airlines and hotels are offering unprecedented deals to secure business (and loyalty) in the months to come. This is your guide.

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