WH adviser Kudlow: Administration making contingency plans for second wave of coronavirus

"The Trump administration is making contingency plans for the second wave of coronavirus," White House economic adviser Larry Kudlow said on Friday and noted that shutdowns in the futures were possible.

"President Trump is weighing making business expenditures to make changes for coronavirus safety tax-deductible," Kudlow added. "China will be held accountable when final studies on coronavirus are in, trade relationship appears to be on track."

Market reaction

The Dow Jones Industrial Average and the S&P 500 are both gaining more than 1% after these comments.