Monday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Monday’s business headlines.

Lilly

Eli Lilly says it expects to begin human testing as soon as next month for an experimental covid-19 treatment.

The Wall Street Journal reports it uses antibodies derived from the blood of people who have recovered from the viral disease.

CEO David Ricks says the testing could yield results by late summer and, if successful, potential emergency authorization by the U.S. Food and Drug Administration by early fall.

Apple, Google

Apple and Google over the weekend updated technical details of the coronavirus contact tracing system they plan to release next month, saying new features would strengthen privacy protections and give health authorities more detailed data.

The smartphone based system will use bluetooth technology to let authorities build apps to alert people who have been in proximity with those who have tested positive for the novel coronavirus.

It will be released in May.

IRS

The IRS’ “get my payment” tool on its website just got an upgrade.

In an effort to improve the user experience and address some of the concerns raised, their programmers are making critical system updates.

Many taxpayers have been frustrated with a payment status not available but offering no details.

Economy

It’s a big week ahead with a fed meeting, a report on economic growth and earnings from big tech companies.

Amazon, Apple, Alphabet, Tesla, Facebook and Microsoft are gearing up to report earnings this week.

It is widely expected that the central bank will hold off from any major announcements, but market participants will be paying close attention to any updates in regards to the Fed’s recent actions to combat COVID-19 .

And the first quarter gross domestic product numbers will be the tip of the iceberg in how much the economy slowed in March.