Dr. Ed's Blog

April 23 (Wednesday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Stock futures rise, rebounding from two days of steep losses C
Oil-Price Crash Deepens, Weighs on Global Markets W
Saudi Oil Stranded in Supertankers as Backlog Piles Up W
U.S. energy secretary to urge House lawmakers to buy oil for strategic reserve R

Central banks
ECB May Discuss Junk Debt Collateral in Call on Wednesday B

US
Coronavirus Sends One-Fifth of Workers to Unemployment Line in Some States W
What America Can Do to Fight Mass Unemployment N
Americans Pulled Back From Home Purchases in March as Coronavirus Spread W
Opinion: This is the one leading economic indicator stock investors should follow MW

China
Low Returns on Cash Squeeze Chinese Savers Out of Comfort Zone B

Japan
Japan’s Inflation Obsession Fades in Effort to Cope With Virus B

US politics
Senate passes $484 billion coronavirus bill for small business and hospital relief, testing C
Small Business Administration Declines Loan Disclosure W
The Public Companies That Got Small Business Loans W
States should say ‘no thanks’ to a federal bailout

Geopolitics & trade
China’s Coronavirus Diplomacy Has Finally Pushed Europe Too Far B
China Called Out in U.S. Warning Over Emerging Market Investing B
Senate Report Affirms U.S. Intelligence Findings on 2016 Russian Interference W

Industries & companies
FAANGs: Netflix has replaced TV as the center of American culture — just look at the viewership numbers C
FAANGs: Netflix Adds 16 Million New Subscribers W
FAANGs: Netflix boom, lack of sports will accelerate cord-cutting, Ben Silverman says C
FAANGs: Netflix says these three effects of the coronavirus crisis are impacting its business C
Financials: LendingClub slashes roughly 30% of workforce as Covid-19 dampens demand for loans C
Financials: Travelers Posts Lower Profit as Catastrophe Losses Rise W
Media: Disney+ has a big fan: Netflix CEO Reed Hastings C
Media: AT&T’s WarnerMedia to Launch HBO Max W
Restaurants: Chipotle’s Online Orders Surge, But Costs Hit Profit W
Tech: Snap Revenue Soars With Users Stuck at Home W
Wireless: Pandemic Builds Momentum for Broadband Upgrade W

Virus I
Political wrangling, controversy mark re-opening of U.S. states R
Some States Look to Reopen, but Others Want More Testing First W
Barr Threatens Legal Action Against Governors Over Lockdowns B
Far-Right Social Media Helps Stir Protests Over Quarantines B

Virus II
White House health advisor says Americans need to prepare for more deaths as coronavirus outbreak moves past peak C
Singapore Had a Coveted Virus Plan. What Went Wrong? W
Seven confirmed COVID-19 cases linked to Wisconsin’s April elections R

Virus III
Trump immigration ban halts green cards, not temporary visas C
Trump to Bar Immigration for Family of U.S. Citizens, Foreign Workers for 60 Days W
Trump Administration Slow to Distribute Coronavirus Aid to Hospitals W
Trump says coronavirus hospital ship USNS Comfort will leave New York City C

April 21 (Tuesday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Stock futures rise slightly as oil prices stabilize C
Stock market today: Dow drops more than 500 points to start the week after historic oil plunge C
Emerging Markets Have Never Experienced A Crisis Like This Before B
Leveraged ETF Trading Surge Means Japan Stocks Calm May Not Last  B

Commodities
U.S. Oil Costs Less Than Zero After a Sharp Monday Selloff W
U.S. crude futures up over $20, but still trade in negative territory R
This oil price crash isn’t as bad as it seems — here’s why C
The oil industry has never been in a crisis quite like this and many producers will not survive C

US
States Burn Through Cash for Unemployment Payments W
U.S. Senate sees possible Tuesday coronavirus vote, Pelosi said optimistic R
In Race for Small-Business Loans, Winning Hinged on Where Firms Bank W
Shake Shack to Return $10 Million Coronavirus Stimulus Loan W
Coronavirus Deepens Millennials’ Feeling They Can’t Get a Break W

China
China Creditor Squeeze Prompts Slowdown in Record Bond Defaults B
China Raises Easing Coronavirus Border Controls With Other Countries W

Geopolitics & trade
Why America desperately needs a ‘hard decoupling’ from China P

Industries & companies
Aerospace: The oil plunge is the last thing Boeing and Airbus needs on top of the coronavirus pandemic C
Autos: GM, Ford Credit Arms May Lose Billions on Car-Price Plunge B
FAANGs: Amazon warehouse workers plan national coronavirus protest C
FAANGs: As Google becomes key infrastructure for new coronavirus relief, old issues haunt it C
Financials: Goldman Sachs looks for good borrowers, depositors in the cracks of coronavirus R
Hotels: Marriott CEO Says Coronavirus Pandemic Will Change Hotel Stays B
Media: ESPN Michael Jordan documentary “The Last Dance” drew 6.1 million C
Retail: ‘It’s Black Friday in April’ as Closed Stores Get Desperate to Unload Spring Clothes W
Tech: IBM Reports Falling Revenue, Pulls Forecast on Virus Woes B

Virus I
Fauci to Protesters: No Coronavirus Control, No Economic Recovery B
The Critical Variable in Keeping Coronavirus in Check: Reproduction Ratio W
Coronavirus Contact-Tracing Teams Grow, as States Hope to Reopen W

Virus II
Georgia’s governor says some shuttered businesses can reopen Friday C
Tennessee preps to reopen, conducts more prison mass testing C
Coronavirus live updates: Georgia governor says some businesses can reopen, California town to test every resident C
Coronavirus antibody testing shows LA County outbreak is up to 55 times bigger than reported cases C

Virus III
Opinion | The Story of Remdesivir N
White House Uses Defense Production Act to Get Virus Test Swabs B
Coronavirus: Fourth-generation GM worker builds US supplies like his great-grandfather did during WWII C

Virus IV
Businesses Strive to Reopen From Coronavirus Shutdown W
To Get Back to Work, Companies Seek Coronavirus Tests for Workers W
Coronavirus Contract Disputes Start Hitting the Courts W
Coronavirus Spreads to Farms, Packaged-Food Plants W

Offbeat
Work will transform after this crisis

April 20 (Monday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Prescient or Pollyannaish?: Explaining the Market’s Rally W
‘Sell in May and go away’ is a warning to stock investors now more than ever MW
The Best Mutual Funds May Soon Come in ETF Form BR

Credit & commodities
Bond Market Devouring Record Gulf Debt Won’t Touch Oman, Bahrain B
Fall of Natural Gas Prices Speeds Energy Shift in East Asia W
Weak Currencies Could Drag on Emerging Market Stocks  BR

US
Mnuchin, Pelosi close to deal on PPP small business loans C
Which Big Companies Are Eligible for Small Business Fund Relief? B
Flaws in America’s Plan to Save Midsize Business Portend More Trouble N
Why Business Won’t Snap Back So Easily After the Great Reopening BR
Young Americans Are Still Catching Up From the Last Recession. Now They Face a New One. W
Coronavirus: What Americans are buying online while in quarantine C

China
China’s Small Companies Are Beating Almost Every Market. Here Are The Best Sectors. BR

Europe
Europe Slowly Emerges From Coronavirus Lockdown  W
Europe needs at least 500 billion euros from EU institutions for recovery: ESM R

Geopolitics & trade
US says China should stop ‘bullying behavior’ in South China Sea C
North Korea Raises Millions Through Hacking, Smuggling, U.N. Report Finds W

Industries & companies
Autos: Ford’s CEO Says Its Cars Will Be Built to Kill Viruses BR
FAANGs: Apple shares sink after Goldman predicts big drop in iPhone sales P
Financials: Some banks won’t press on card payments for now P
Health-care: Coronavirus Has Ushered in the Telehealth Revolution. Which Stocks to Play It. BR
Media: Live Sports Are Canceled. But Don’t Expect a Cable-TV Refund. W
Media: Baseball Without Fans Sounded Crazy. It Might Just Work. W
Pharma: Big Pharma Sees Its Strengths Surface in the Pandemic BR
Retail: Walmart hiring 50K new employees to meet coronavirus demand P
Retail: Coronavirus, retail closures speed the rise of Amazon C
Tech: Big Tech’s Resilience to Coronavirus Downturn Faces First Test W

Virus I
Trump’s Coronavirus Focus Shifts to Reopening Economy, Defending His Response W
Trump’s coronavirus reopening plan has big holes, health experts say R
As New York ramps up coronavirus testing, governors tell Trump it’s too soon to reopen America R
Coronavirus: Maryland Gov. says it’s ‘absolutely false’ states are ready to reopen C
More Americans Fear Lifting Coronavirus Restrictions Too Soon, WSJ/NBC Poll Says W

Virus II
The stock market is rising on hope for a pharma solution to coronavirus — here’s how close we are C
A Covid-19 Vaccine Could Take Longer Than Investors Expect BR
Does Covid-19 Infection Equal Immunity? W
Microsoft ‘plasmabot’ encourages Covid-19 survivors to donate plasma C
Coronavirus tests delayed by Covid-19 contamination at CDC lab C

Virus III
How Sweden Is Fighting Coronavirus B
As Politicians Lean on Disease Modelers in Health Crisis, Some Scientists Fear a Backlash W
After Repeated Failures, It’s Time To Permanently Dump Epidemic Models
Coronavirus: Walmart to require associates to wear masks at work C
Experts say it may be time for grocery stores to ban customers from coming inside NN
U.S. Pays High Prices for Masks From Unproven Vendors in Coronavirus Fight W
Tools to Help You Keep Your Distance as More People Go Outside W

Corporate finance
24 Hour Fitness weighs bankruptcy amid coronavirus pandemic C

April 18 (Saturday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Dow jumps 700 points on hope for a coronavirus treatment, closes at highest level since March C
Stocks Rally to Close Second Week of Gains W
A blast of earnings news is coming, but the market may be more focused on when the economy will reopen C
U.S. Crude Prices Drop to New 18-Year Low W
The US dollar is still king during the coronavirus NN

Central banks
New York Fed’s Williams Says Recovery Unlikely to Be Swift W
Fed Says It Will Disclose Borrower Information in Crisis Lending B

US
Here Are the Companies Getting Federal Funds for Covid Relief B
Nearly 3 million borrowers have been granted mortgage relief, and the industry is crying for help C
Homebuilding just had its worst month since 1984. What traders see ahead for the group C
Unemployed workers turn to each other for help getting through complex, crashed filing systems C
Op-Ed: The smart way to get US employees back to work C

China
China Records First Ever Contraction in Quarterly GDP on Coronavirus W
Virus Ravages China’s Economy—and It’s Just Getting Started W

US politics
Loans Averaged $206,000 in Small Businesses Fund That Ran Out B
JPMorgan says it has $26 billion in small business relief applications that need funding C
Giant U.S. Lenders Outpaced by Rivals in Small-Business Rescue B
Top House Republican Backs Adding Hospital Funding to Small-Business Package W
Small Businesses Need Money—but First They Need the U.S. to Reopen W
After earlier confusion, filing requirements are waived and veterans will get stimulus checks automatically C
The Year Tax Day Turned Upside Down W

Geopolitics & trade
North Korea Raises Millions Through Hacking, Smuggling, U.N. Report Finds W

Industries & companies
Airlines: In an age of coronavirus, airlines’ ‘Mr. Fix-It’ says the industry’s future depends on convincing travelers it’s safe to fly again C
Autos: VW Reopens Europe Plants, Offering a Vision of the Postvirus Factory W
Consumer: Procter & Gamble Posts Biggest U.S. Sales Gain in Decades W
Pharma: Coronavirus Drug Report, Though Inconclusive, Sends Gilead Higher W

Corporate finance
Exclusive: Norwegian Cruise taps Goldman Sachs to explore stake sale – sources R

Virus I
Coronavirus live updates: Global deaths cross 150,000 as Trump urges states reopen C
California governor names Steyer, Yellen and tech CEOs to business recovery task force C
Trump demands states ‘LIBERATE’ after he issues new coronavirus guidelines and protests pop up C
Trump Backs Protests Against Governors’ Stay-at-Home Orders W
What Returning to Work Will Look Like in Offices, Cafes and Factories Around the World B

Virus II
WHO says China revised coronavirus infection data to ‘leave no case undocumented’ C
New York still struggles with 2,000 new coronavirus hospitalizations a day, Gov. Cuomo says C
San Francisco residents required to wear face coverings at essential businesses C

Virus III
Virus Vaccine May Be Ready for Mass Production By Autumn, Oxford Professor Says B
WHO warning: No evidence that antibody tests can show coronavirus immunity C
Antibody study suggests Covid-19 could be far more prevalent in the Bay Area than official numbers suggest C
South Korea’s New Coronavirus Twist: Recovered Patients Test Positive Again W
Facebook Cancels Gatherings With 50 or More People Through June 2021 W

Tech
For the first time ever, a robotic spacecraft caught an old satellite and extended its life C

April 17 (Friday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Dow futures rally 700 points after report says Gilead drug showing effectiveness against coronavirus C
Stocks vulnerable to another 20% downdraft, investor Peter Boockvar warns C
Big Gains in Havens Stoke Worries About Stock-Market Pullback W
Oil Demand Will Fall by a Fifth in April, OPEC Forecasts W

Global
U.S. Endorses G-20 Plan on Debt Suspension for Low-Income Economies W

Central banks
Unusual partnership in coronavirus bailout allows Fed and Treasury to share the risk C
Fed’s Harker says lost jobs will come back, but US should be patient C

US
Millions unemployed, homebuilding collapses as coronavirus ravages U.S. economy R
Small business rescue loan program hits $349 billion limit and is now out of money C
Fed’s Bostic: U.S. small business may need up to $500 billion monthly in support through crisis R
Fintech Lending to Small Businesses Faces Coronavirus Obstacles W

China
China’s virus-hit economy set to post first decline since at least 1992 R

Industries & companies
Aerospace: Boeing plans to resume Seattle-area aircraft production with physical distancing to avoid coronavirus C
FAANGs: Amazon Retools With Unusual Goal: Get Shoppers to Buy Less Amid Coronavirus Pandemic W
Financials: Morgan Stanley Quarterly Profit Drops 30% W
Health-Care: Health-Care Industry in Tug-of-War Over Coronavirus Aid W
Industrials: GE, Ford sign $336 million federal contract to make ventilators for coronavirus outbreak C
Pharma: Gilead stock pops 16% after report says coronavirus drug trial shows encouraging early results C
Real estate: The New York retail real estate market is reeling because of coronavirus, as rents tumble C
Tech: Microsoft stock is up because businesses want secure video conferencing, says Robert Herjavec C
Tech: Zoom Hires Security Heavyweights to Fix Flaws W

Virus I
New York and other East Coast states extend shutdown of nonessential businesses to May 15, Gov. Cuomo says C | Federal Guidelines
Governors Extend Lockdowns as Global Cases Top 2.1 Million W
The US economy can’t reopen without widespread coronavirus testing. Getting there will take a lot of work and money C

Virus II
Moderna Gets U.S. Funding for Development, Manufacturing of Experimental Coronavirus Vaccine W
EU Backs Coronavirus Contact-Tracing Apps Similar to Apple-Google Proposal W
Exclusive: FDA may have dropped standards too far in hunt for chloroquine to fight coronavirus – sources R
China’s Export Restrictions Strand Medical Goods U.S. Needs to Fight Coronavirus, State Department Says W

Virus III
US Navy hospital ship will see patients from Philadelphia area amid coronavirus pandemic C
Supermarkets Adjust Meat Sections as Coronavirus Cuts Supply W

Cybersecurity
Foreign state hackers target U.S. coronavirus treatment research: FBI official R

Offbeat
Khan Academy founder: Balance between in-person, online learning could be ‘silver lining’ of crisis C
Science projects to do at home while on coronavirus lockdown P

April 16 (Thursday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Foreign Holdings of U.S. Treasuries Hit Record High in February B
Gas Is Super Cheap, But Pumps Stay Full With Fuel No One Is Buying B

Central banks
The Fed’s Main Street problem: Worries rise that money won’t go where it’s most needed C
Fed Beige Book says economy contracted ‘sharply and abruptly’ due to coronavirus C
Fed’s Latest Treasury Purchases Signal Liquidity Is Improving B

US
U.S. Economic Data Show Deep Hit in March, Collapse in April B
The economic data is even worse than Wall Street feared: ‘The economy is clearly in ruins here’ C
U.S. Factory Output Fell in March by the Most Since 1946 B
Small business loans top $296 billion and could reach the program’s limit by the end of Wednesday C
‘I can’t even get anyone to take my application’: Some small businesses are locked out of loan program C

Industries & companies
American Airlines CEO: ‘It certainly feels like we’re at bottom’ as revenue tumbles 90% C
Apple now sells five iPhones — here’s how to pick the right iPhone for you C

Virus I
Trump Abandons Task Force on Reopening U.S., Hosts Calls Instead B
New York moves to a ‘new normal’ as Gov. Cuomo outlines gradual reopening of businessesC
Merkel Announces Steps to Slowly Return Germany to Normal B

Virus II
New York Gov. Andrew Cuomo orders all people to wear face coverings in public C
Coronavirus updates: Executives warn more testing needed, Maryland requires masks while shopping C

Virus III
Senate Democrats seek $30 billion for national coronavirus testing C
Abbott announces new coronavirus antibody test that could do up to 20 million screenings in JuneC
1-in-7 New Yorkers May Have Already Gotten Covid-19 B

April 15 (Wednesday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Dow jumps 500 points as coronavirus outlook improves C
Thirst for Oil Vanishes, Leaving Industry in Chaos W

Global
World Economy Is Likely in Recession W
G-7 Countries Back Debt Relief for Poorest If G-20 Join W

US
Worst-Case Fears of 20%-Plus U.S. Jobless Rate Are Now Realistic B
A Second Round of Coronavirus Layoffs Has Begun. Few Are Safe. W
Goldman says downturn will be 4 times worse than housing crisis, then an ‘unprecedented’ recovery C

Europe
The Bank Backstop: Can Europe’s Lenders Weather the Coronavirus Crisis? W

US politics
Trump’s Legal Power to Overrule States on Pandemic Is Limited W
New York Gov. Cuomo says Trump will have ‘no fight with me’ on coronavirus, but he’s ‘wrong’ on the law C
Small Business Loan Funds Running Out With Congress Stalled B
Small-Business Funding Dispute Challenges Community Lenders W
Barack Obama Endorses Joe Biden for President W

Industries & companies
Aerospace: Boeing customers cancel staggering 150 Max plane orders, deepening crisis as coronavirus roils air travel C
Autos: Tesla Stock Rides Seven-Session Winning Streak, Rising More Than 60% W
Consumer: Johnson & Johnson Lowers Revenue Forecast on Coronavirus Impact W
Financials: JPMorgan, Wells Fargo Profits Tumble as They Brace for a Recession W
Media: NBCUniversal ‘evaluating’ moving up nationwide Peacock launch from July 15, says Peacock chief C
Tech: Cisco will let customers defer 95% of their payments on new products until 2021 C

Corporate finance
Bank of America survey shows highest cash positions since 9/11 attacks, demand for end to buybacks C

Virus I
Coronavirus live updates: New York cases show signs of slowing, US airports see $10 billion in aid C
Jamie Dimon says US companies might send employees back to work by ‘June, July, August’C
Explainer: What is contact tracing and how can it help fight the new coronavirus? R
Explainer: How smartphone apps can help ‘contact trace’ the new coronavirus R
Coronavirus Turns 911 Calls Into Tracking ToolW

Virus II
GlaxoSmithKline, Sanofi Team Up for Vaccine W
Hospitals Monitor Some Coronavirus Patients at Home W
FEMA Joined Virus Fight With Posts Unfilled and Parent Agency Moving Funds to Immigration W
Prisoner Release Orders Spur Debate W

April 14 (Tuesday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Dow falls 300 points, but Netflix leads Nasdaq into the green C
Stocks Fall as Investors Brace for Earnings Season W
ETF Investors Are All-In on Stimulus With $17 Billion Stock Bet B
North America’s Oil Industry Is Shutting Off the Spigot W

US
U.S. Debt and Deficit Forecast to Hit Levels Not Seen Since WWII B
How Coronavirus Spread Through Corporate America W
How restaurants plan to survive widespread layoffs from the coronavirus pandemic C
Homeowners Seeking Mortgage Relief With U.S. Economy Shuttered B

US politics
Negotiations Over New Coronavirus Aid Stall W
Trump Defends His Coronavirus Record With Anger, and a Video B
Fauci walks back coronavirus comments that sparked fears of his firing C
Sanders Endorses Biden W
Biden Wins Democratic Presidential Primary in Wisconsin W

Geopolitics & trade
The U.S. vs. China: Who Is Winning the Key Technology Battles? W
Trump Funding Threat Against World Health Organization Linked to Hiring Practices W
 
Industries & companies
Airlines: Mnuchin flexes muscles on airline coronavirus aid — a taste of what other companies may face C
Apparel: The coronavirus pandemic ‘creates an opportunity’ for business, Levi Strauss CEO says C
FAANGs: Amazon to Ease Curbs on Nonessential Items W
Media: Ad Giant Publicis Warns of Spending Pullback Amid Coronavirus W
Media: Roku Adds 3 Million Accounts as Coronavirus Forces Shelter-in-Place W

Virus
Trump says plan to re-open shuttered U.S. economy to be completed soon R
Nine U.S. states planning reopening of economies after coronavirus shutdown R
The Coronavirus Economic Reopening Will Be Fragile, Partial and Slow W
Why Trump’s claim that he has ‘total’ power to restart state economies is false C
Trump says there’s ‘clear evidence’ coronavirus mitigation is working in US as growth in new cases stabilizes C
Lockdowns Extended Across Europe Amid Signs Crisis Is Slowing W
World Bank, IMF Push to Consolidate Patchwork Approach to Coronavirus Crisis W

Corporate finance
SoftBank Expects Nearly $17 Billion Loss on Vision Fund W

Offbeat
Tornadoes Kill at Least 32 People Across the South W
The Coronavirus Puzzle Boom Is Not Puzzling at All B