May 01 (Friday)
YRI
Morning Briefing PDF
Daily Markets
Markets
Stock Market Surge Isn’t as Crazy as It Seems W
Dow futures fall more than 100 points after Wall Street wraps up best month in three decades C
Cash-Hungry Companies Reach for Lifeline in Convertible Bonds W
Central banks
What the ECB Did Thursday—and Why Investors Were Disappointed W
Federal Reserve Expands Business Lending Program W
Liquidity Crisis or Solvency Crisis? It Matters to Fed W
New York City’s subway system may turn to the Federal Reserve for a loan, meets bond investors Friday C
US I
Coronavirus Prompts Record Drop in Consumer Spending W
Jobless claims surge to more than 30 million — here’s what to watch C
3.8 Million More Sought Jobless Benefits as Surge Tests States’ Systems W
US II
Federal Small-Business Aid: Too Little Bang, Too Few Bucks W
Justice Department Sees Early Fraud Signs in SBA Loan Flurry B
IRS Denies Deductions Tied to Small-Business Loans W
Virus Pushes Colleges to the Breaking Point, Forcing ‘Hard Choices’ About Education W
Europe
Record Contraction in Eurozone Bodes Ill for Global Economy W
US politics
Trump says he would ‘certainly consider’ bringing convicted felon Michael Flynn back into administration C
Biden to give first interview responding to accusations R
Geopolitics & trade
Trump threatens new tariffs on China as U.S. mulls retaliatory action over virus R
Industries & companies
Airlines: United Airlines swings to $1.7 billion loss in first quarter as bookings disappeared in coronavirus pandemic C
Energy: Texas Shale Driller Concho Takes $12.6 Billion Charge, Citing Coronavirus Impacts W
FAANGs: Apple CEO Tim Cook says company saw an ‘uptick across the board’ in late April thanks to stimulus and work from home C
FAANGs: Apple now has $192.8 billion in cash on hand, down from last quarter C
FAANGs: Amazon reports earnings, plans to spend all Q2 profits on coronavirus response C
FAANGs: AWS tops $10 billion in quarterly revenue for the first time C
Financials: Bank stocks could surge in economic recovery, Bank of America strategist says C
Financials: Wells Fargo will no longer accept applications for home equity lines of credit C
Financials: Visa Posts Higher Quarterly Profit, Beating Projections W
Financials: Visa Warns It Will Be Challenged ‘for a Number of Quarters’ B
Media: Disney+ in a Programming Crunch Due to Coronavirus Shutdown W
Retail: Macy’s will survive. It has a role to play in American retail, CEO Jeff Gennette says C
Virus I
U.S. Intelligence Agencies Confirm Investigating if Virus Emerged From Lab Accident W
Trump suspects coronavirus outbreak came from China lab, doesn’t cite evidence C
Virus II
Gilead says it can produce ‘several million’ rounds of remdesivir coronavirus treatments next year C
FDA’s relaxed regulations open the market to dubious coronavirus testing vendors R
Bill Gates says this is what you need to know about a coronavirus vaccine C
Virus III
Meat Companies Want to Reopen, but Officials Fear New Infections W
MGM Resorts CEO: Las Vegas Reopening Will Start With Two or Three Casinos W
Macy’s to Begin Reopening Stores on Monday W
NYC Subways Won’t Run 24 Hours a Day During Pandemic W
U.K.’s Virus Death Toll Draws Scrutiny W
Corporate finance
Boeing Launches $25 Billion Bond Sale W
J. Crew is preparing for a bankruptcy filing that could come this weekend C
Brooks Brothers Seeks Buyer With Wall Street Working From Home B
Buybacks Still On at Apple, Alphabet With Tech Giants Flush B