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Parts of Asia are bouncing back from Covid-19 as the West struggles with a record onslaught. Singapore’s border restrictions will be lifted for visitors from China, another sign of the latter’s recovery, while Taiwan has gone 200 days without a locally transmitted case. That island nation holds the world’s best virus record by far, while America, now with 9 million confirmed infections, holds the worst. Indeed, the U.S. and much of Europe are slipping under new waves of infection. Bloomberg is tracking rising U.S. hospitalizations in 47 states or territories, including 19 that are witnessing the largest increases since the pandemic began. Meanwhile, Eli Lilly is racing ahead to produce a single-antibody Covid-19 treatment despite the fact that its effectiveness remains unproven. Here is the latest on the pandemic. —David E. Rovella

Bloomberg is mapping the pandemic globally and across America. For the latest news, sign up for our Covid-19 podcast and daily newsletter.

Here are today’s top stories

The U.S. economy saw a temporary surge of growth in the third quarter as businesses reopened, but the sharp equities selloff over the past week (though not on Thursday) doesn’t bode well for Republicans if history is a guide. With polls tightening in the critical battleground state of Pennsylvania, former Vice President Joe Biden said President Donald Trump has simply given up on fighting a pandemic that has killed almost 230,000 Americans.

Digital advertising rose with those U.S. business reopenings—good news for Google and its third-quarter earnings. And despite boycotts over its use in propagating hate speech and election misinformation, Facebook managed to do pretty good, too. For Apple, though, the news wasn’t so great, thanks to missed iPhone sales estimates and a slump in revenue from China.

Netflix is raising its prices again, betting you are willing to pay more for its library of shows, like “The Crown,” which has a new season in November.

Central banks became gold sellers for the first time since 2010 as some producing nations exploited near-record prices.

A U.S. program meant to aid small-business owners struggling to survive the pandemic handed out $10,000 to just about anyone who asked. People caught on quick, including professional thieves from Russia to Nigeria, and looted billions of U.S. taxpayer dollars.

The bitter legacy of Brett Kavanaugh’s Supreme Court confirmation hearings lives on in the critical effort to control the U.S. Senate. Bloomberg is tracking the races to control the chamber.

Senator Susan Collins of Maine is in a pitched battle to retain her seat.

Photographer: Portland Press Herald

What’s Joe Weisenthal thinking about? The Bloomberg news director remembers how some people always say in times of financial crisis that the Fed has run out of ammo, but then the Fed responds in some powerful fashion. However in the current coronavirus recession, Joe says the Fed may truly be out of firepower, and maybe only government spending can save the economy.

What you’ll need to know tomorrow

What you’ll want to read in Bloomberg Pursuits

The Booming Business of Recycling Cruise Ships

Carnival Fantasy was a ship famous for its outlandish décor, all-night revelry and sheer size. The “Fun Ship” vibe it introduced in 1990 came with an Egyptian-themed piano bar replete with fake sarcophagus and glass-topped atrium high above mingling passengers. Now the ship is being torn apart in the Turkish shipbreaking capital of Aliaga, where buyers look for deals on everything from artwork to—well—kitchen sinks.

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Navigating Markets 2020: The pandemic's impact has been profound, and countries that were slow to introduce safety measures have seen increased volatility in currencies and stocks since emerging from initial lockdowns. Join experts from Avonhurst, BlackRock and sponsor Swissquote Nov. 5-6 as they discuss the challenges and opportunities presented by this environment. Register here.

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