Dr. Ed's Blog

April 13 (Monday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Dow futures slide more than 100 points as investors weigh coronavirus and oil outlook C
OPEC and allies finalize record oil production cut after days of discussion C
Young Shale CEO Asks Texas to Curb Oil Output W

Central banks & credit
Junk-Bond Rally May Have Been a Fed-Fueled Mirage BR
The Fed is on ‘wartime’ footing and still may be asked to do more C
Fed’s Neel Kashkari says coronavirus economic recovery ‘could be a long, hard road’ C
‘Protection-Lite’ Loans May Cause the Next Recession BR

US
How Bad the Economy Could Get BR
Looming Earnings Season Offers Next Test for Stock Market W
Bracing for an Economy Changed by Coronavirus BR
Robert Shiller: Pandemic of fear could tip economy into a depression C
Over 60 With Decades Left on the Mortgage: The New Retirement Math W
Covid-19 Cost Them Their Jobs. How They’re Getting By. BR

US politics
Lawmakers Seek New Ways to Cover Workers’ Paychecks W
Longer-Term Prospects of Coronavirus Response: Bigger State, Higher Taxes W

Geopolitics & trade
Beijing tightens grip over coronavirus research, amid US-China row on virus origin NN
How China could use this moment to charge ahead with its geopolitical agenda C

Industries & companies
Financials: Bank Stocks Are in a Ditch. Earnings Won’t Change That. W
Media: Disney World will furlough 43,000 union workers during coronavirus shutdown C
Media: Bob Iger on Disney After Coronavirus BR
Tech: Looking for a Job? Big Tech Is Hiring W
Utilities: For Dividend Safety, Think About Regulated Utilities BR

Virus I
Fauci expresses ‘cautious optimism’ coronavirus outbreak is slowing, US could start reopening in May C
Trump and Allies Push Toward Reopening Economy. But Governors Urge Caution. N
Coronavirus ‘Immunity Passport’ Stumbles in U.K. W
Is Sweden’s COVID-19 strategy working?
The Terrible Costs of Keeping—or Ending—the Lockdowns BR

Virus II
NYC mayor announces public schools will remain closed rest of academic year, but governor pushes back C
New Jersey governor slashes all train, bus and light rail transit by 50% C
It’s ‘People, People, People’ as Lines Stretch Across America N

Virus III
Auto Giants Trade Drills for Tweezers in Bid to Rush Coronavirus Ventilators W
Smithfield CEO Warns of Risks to Pork Supply W
P&G Toilet-Paper Factory Delivers as Virus Hits Town W

Virus IV
How a Premier U.S. Drug Company Became a Virus ‘Super Spreader’ N
How the Virus Transformed the Way Americans Spend Their Money N
UK Prime Minister Boris Johnson discharged from hospital C
Boris Johnson Says He Risked Dying During Virus Treatment B

April 10 (Friday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
S&P 500 jumps more than 1%, capping off its best week since 1974 C
Fed Moves Spark Corporate Bond Rally W
OPEC and allies agree to historic 10 million barrel per day production cut C

Central banks & credit
Federal Reserve unveils details of $2.3 trillion in programs to help support the economy C
Fed Has Firepower to Do More Even After $2.3 Trillion Aid Blitz B
‘Where No Fed Has Gone’: Wall Street Reacts to Muni-Debt Program B
Powell Says Fed Will Act ‘Forcefully’ to Help U.S. Recovery B
Coronavirus Crisis Legacy: Mountains of Debt W

US
Economic Data Spur Debate Over Lifting Virus Restrictions W
U.S. Jobless Claims Soar for Third Straight Week W
Las Vegas Job Losses Could Double Those of 2007-09 Recession W
A Month Ago, They All Had Stable Jobs. Now They Want to Work for Amazon. W
Frozen Housing Market Relies on Bargains and Desperation B
Ray Dalio predicts a coronavirus depression: ‘This is bigger than what happened in 2008’ C
Postal Service Warns of $22 Billion Hole From Coronavirus W

Europe
EU Finance Ministers Agree to Funding to Cushion Impact of Coronavirus W

US politics
GOP, Democrats Hit Impasse Over Nature of Next Round of Aid W
Joe Biden Seeks to Unite Democrats With New Policy Proposals W
Progressive groups push Biden to keep Wall Street out of White House C

Geopolitics & trade
U.S. Officials Target Chinese State-Owned Telecom Provider W

Industries & companies
Retail: Walmart hires 100,000 to meet demand, as toilet paper and sewing machines fly off the shelves C

Virus
Global Virus Cases Top 1.5 Million W
In Washington, Why the Predicted Coronavirus Surge Hasn’t Hit W
Haywire Immune Reaction Linked to Severe Virus Cases W
Prisoners Riot as Coronavirus Tensions Rise W

Virus II
Pfizer’s lead coronavirus drug is showing promise, chief scientific officer says C
Database of Medical Records Would Create a Coronavirus Registry W
Chinese Doctors at Coronavirus Hub Cast Doubt on Chloroquine as Cure W
Faulty N95 Masks Hamper Hospitals W

Virus III
U.S. Exploring Coronavirus Testing for Food Plants W
Amazon says it could soon begin testing some warehouse workers for the coronavirus C
Farmers Dump Milk, Break Eggs as Restaurant Closings Destroy Demand W

Cybersecurity
Travelex Paid Hackers About $2.3 Million After Attack W

Offbeat
Air pollution drops 30% in Northeast US as coronavirus lockdown slows travel: NASA C
Morgan Stanley CEO Recovered From Coronavirus W
Harvard University Taps Credit Markets for Up to $1.1 Billion B

April 09 (Thursday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Stocks Rebound After Bout of Volatility W
Oil surges in sudden move toward the end of trading, production cuts eyed C
Far Flung Local Currency Bonds Whip Back on Investors W

Central banks
Fed will keep rates near zero until economy has ‘weathered’ coronavirus impact, minutes show C
Fed Minutes Reveal Alarm Over Virus’s Economic, Market Disruptions W
Health crisis warranted ‘forceful’ response from Fed, minutes show R
Fed Bought Time With Emergency Cut While Eyeing New Programs B
State Funding Woes Are Dragging the Fed Into Muni-Market Reboot W
Coming next from the Fed: How much for Main Street? R

US
U.S. GDP will contract 30% in second quarter, 5% in 2020: PIMCO R
Wobbly U.S. fiscal response could deepen coronavirus recession R

US politics
Hundreds of U.S. lenders get access to small business rescue program with new system launch R
SBA Under Fire for Failing to Get Aid to Struggling Small Businesses W
Bernie Sanders is out of the race, but he promises to press his democratic socialist agenda C
Biden and the DNC start to lay the groundwork for a joint fundraising effort to take on Trump C
Coronavirus is disrupting the 2020 election. New York and New Jersey are latest to change their primaries C

Geopolitics & trade
Trump Eyes Tariffs as Tool to Tame Oil Glut W

Industries & companies
Aerospace: Pandemic Hits Plane Makers, Complicates 737 MAX Return W
Autos: Toyota extends North American plant shutdown; will stop paying 5,000 temporary workers R
Consumer: As coronavirus spread to the US, Clorox shares soared C
FAANGs: Amazon Warehouse Warned Staff Not to Touch Shipments for 24 Hours B
Insurance: Auto insurers are offering discounts amid the pandemic. What you need to know C
Retail: Some Retail Chains Fight for Survival W
Retail: McDonald’s Warns Of Difficult Decisions Ahead W

Virus I
For All Its Coronavirus Blunders, Italy Offers Hope for Other Democracies W
First European Countries Prepare to Ease Coronavirus Lockdown Restrictions W
Germany Cuts Deal with China for Coronavirus Supplies W

Virus II
Trump Health Team Crafts Plan to Open Economy If Virus Crests B
GM to Make 30,000 Ventilators for National Stockpile W
U.S. Passes 400,000 Infections of Virus W

Virus III
New York Gov. Cuomo says state won’t return to ‘normal’ as daily coronavirus deaths reach new high C
New York City’s Hospitals Prepare ‘Live or Die’ Guidance as Virus Peaks W
Most NYC Covid-19 Cases Came From Europe, Genome Researchers Say B
Three Deaths Expose Fears for Strength of U.S. Food-Supply Chain B

Cybersecurity
Hacking Groups Hunt Pandemic Opportunities, Warn U.S., British Officials W

Offbeat
FASB Proposes Delaying New Accounting Rules for Some Companies Because of Coronavirus W
WHO officials are investigating human transmission of the coronavirus to pets C
Airbnb’s Coronavirus Crisis: Burning Cash, Angry Hosts and an Uncertain Future W
Sen. Kelly Loeffler and her CEO husband will sell all individual stock shares after coronavirus trade furor C

April 08 (Wednesday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Dow gives up 900-point rally, turns negative in final hour of trading C

Energy
U.S. Slashes 2020 Oil-Output Forecast Ahead of OPEC+ Meeting B
U.S. Natural Gas Output Expected to Fall by Most Ever Next Year B

Central banks & credit
Sizing Up Fed’s Historic Intervention W
China’s Faltering Dollar Bonds Show Limits of State Intervention B
Bond Investors Are Back, Even in Indonesia W
Illinois Faces Rising Risk of Cut to Junk Over Pandemic Hit B
Democrats Push for Fed to Buy Low-Rated Muni Debt to Ease Strain B
ECB Helps Greek Plans for New Debt to Fight Virus Pandemic B

US I
U.S. Consumer Credit Jumped in February Before Virus Hit B
Requests to delay mortgage payments jump nearly 2,000% as borrowers seek relief during outbreak C
Fannie, Freddie Unlikely to Aid Mortgage Firms as Payments Dry Up W

US II
U.S. Economy Is in a Contraction, Says Larry Kudlow W
Bernanke Doesn’t See V-Shaped U.S. Recovery After Steep Fall B
Cramer predicts ‘U’ shape recovery, says economy ‘will bounce back gradually’ C
Companies Cite New Government Benefits in Cutting Workers W

US politics
Mnuchin seeks $250 billion more in small business aid, as Senate vote is planned for Thursday C
Small Businesses’ Finances Highly Vulnerable to Coronavirus Crisis W
Your forgivable loan may be undercut by this provision of the Paycheck Protection Program C

Industries & companies
Casinos: In Las Vegas, the Coronavirus Odds Are Not in Our Favor N
FAANGs: Netflix just got a bunch of new parental controls — here’s how to use them C
FAANGs: Amazon to Suspend Delivery Service That Competes With UPS, FedEx W
Insurance: Allstate CEO: Driving is way down due to coronavirus and ‘we don’t know’ if trend will last C
Insurance: UnitedHealth Will Speed Payments to Doctors, Hospitals Amid Pandemic W
Media: Video game streaming is surging as millions are cooped up inside their homes C
Real estate: Shopping center owner Kimco is trying to help its smaller tenants pay rent, stay in business C
Retail: Costco vs. Walmart: Trader says one could be a better big-box pick C
Retail: Back-to-School Season in Jeopardy With Retail Imports Plunging B
Trucking: Truckers Cut Spending as Factory Slowdown Weighs on Operators W

Virus I
Global Virus Deaths Top 81,000 as Four States Report Highest Daily Toll W
U.K., New York Have Deadliest Day; Trump Rips WHO: Virus Update B
New York coronavirus deaths jumped by 731 Monday, the biggest daily increase, Gov. Cuomo says C
New Jersey closes most public parks, extends emergency order as deaths surge C
China Eases Wuhan Lockdown, but Coronavirus Fight Remains Incomplete W

Virus II
Attention Turns to Eventual Reopening of U.S. Economy W
Trump Team Preps Plans to Reopen Economy That Depend on Testing B
U.S. Labs Face Crisis After Crisis Despite Improvements in Testing B
In Coronavirus Response, Republicans and Democrats Like Big Government W

Virus III
Trump Says He’s Considering a Hold on U.S. Funding for WHO B
Companies Offer FEMA Critical Supplies the Government Can’t Buy W
Patients with autoimmune diseases are running out of hydroxychloroquine C

Corporate finance
Airbnb Paying More Than 10% Interest on $1 Billion Financing W
WeWork Directors Sue SoftBank Over Terminated $3 Billion Share Offer W

Offbeat
Wisconsin voters go to the polls despite coronavirus health risks. Here are some photos C
Twitter CEO sets aside $1 billion in Square equity for charity, coronavirus relief C
Airbnb guests say the company is making it hard to collect refunds for coronavirus cancellations C

April 07 (Tuesday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Dow rallies nearly 1,200 points as US coronavirus case growth rate appears to slow down C
Dow Industrials Rise About 6% W
Equities Surge, Bonds Decline on Easing Virus Toll B
Wall Street bounces back from a steep sell-off. Here’s what to expect next C
Investors should prepare for a ‘vicious spiral’ more than twice as bad as the financial crisis, says J.P. Morgan MW

Commodities
Oil drops 8% amid uncertainty over production cuts C
OPEC Seeks to Rally Producers Over Fears of Filled Storage W

Central banks
Fed Preparing to Purchase New Small Business Payroll Loans W
New York Fed Says Commercial Paper Facility Will Launch April 14 W

US
Jamie Dimon warns: We’re getting a ‘bad recession’ plus ‘financial stress’ like the 2008 crisis C
Janet Yellen says second-quarter GDP could decline by 30% and unemployment is already at 12%-13% C

Europe
Germany Plans ‘Limitless’ Credit Program for Small Companies B

US politics
Many Americans say $1,200 stimulus checks won’t be enough. What it would take to get more money C
Opinion: Congress should send everyone a $1,200 check every month MW
Coronavirus prompts government to loosen rules on tapping retirement savings
Trump Risks U.S. Jobs While Saving Apple’s at Austin Factory B
Pelosi, Democrats using coronavirus to push for big tax cuts for blue state residents

US politics II
Kudlow Says He Proposed ‘War Bonds’ for Coronavirus to Trump B
Stampede for emergency loans is crushing lenders, putting millions of small businesses at risk C
Restaurants, Hotels Won Ability to Get Small-Business Help W

Industries & companies
Financials: Coronavirus mortgage bailout: ‘There is going to be complete chaos,’ says industry CEO C
Financials: Bank of America sees booming rescue loan demand, with applications for nearly 10% of program C
Financials: Car Insurers Give Millions in Coronavirus Refunds W
Real estate: Tom Barrack on the Crisis in the Commercial Real Estate Market B
Utilities: PG&E’s Settlement With California Fire Victims Is Fraying W

Virus I
WHO says coronavirus vaccine and treatment research has ‘accelerated at incredible speed’ C
Trump Pushes Broader Use of Hydroxychloroquine Against Coronavirus W
Scientists Rush to Find Coronavirus Cure—but it Still Isn’t Fast Enough W
Here’s Why President Trump Should Love Face Masks W

Virus II
WHO says the coronavirus can spread one to three days before symptoms start C
CDC says three kids have died from suspected coronavirus in US as some children get severely sick C
The Coronavirus Pandemic Is Not Exponential

Virus III
South Korea Tamps Down Coronavirus, but Economy Remains Paralyzed W
After Coronavirus Successes, Asian Nations Forced to Tighten Curbs W
UK Prime Minister Boris Johnson in intensive care after coronavirus condition ‘worsened’ C

Virus IV
U.S. Death Toll From Virus Tops 10,000 W
Cuomo Says New York Deaths Signal Possible Plateau in Outbreak B
NY Gov. Cuomo doubles max fine for breaking coronavirus rules to $1,000 as cases rise C
NY Gov. Cuomo will ask Trump to allow coronavirus patients on Navy ship Comfort C

Virus V
Shipping Delays? Amazon Isn’t the Only Shop Online W
Coronavirus Hits Meat Plants W
For Grocers, Eggs Are Getting More Expensive W

Corporate finance
The No. 1 Source of Stock Demand Is a Goner, for Years to Come B

Offbeat
NYC education department tells principals to stop using Zoom, citing privacy concerns C
Spies, Unable to Telework, Adapt Their Access to U.S. Secrets W
FAA Devises Novel Strategies to Keep Air-Traffic Control Centers Running W

April 06 (Monday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
The Great Portfolio Stress Test: What One Bad Day Can Tell You BR
Oil set to ‘crater’ Monday as OPEC meeting delayed, tensions flare between Saudi Arabia and Russia C
Oil Investors Grow Desperate for Supply Cuts W
Active Managers Have Disappointed. But We Found Some Good Ones. BR

Credit
Most Bond Funds Have Been Beaten Up. It’s Time for a Gut Check. BR
Why Emerging Market Corporate Bonds Might Be Worth the Risk. BR
Supply-Chain Finance Is New Risk in Crisis W

Central banks
Fed’s Bullard says US economy not in ‘free fall’ despite 32% unemployment projection C
What Negative Interest Rates Really Mean for You BR

US
This Earnings Season, It’s the Adjectives That Matter BR
The jobs numbers have been so bad that even the good news is bad news C
State Shutdowns Have Taken at Least a Quarter of U.S. Economy Offline W
New York City’s Economy Is in the Crucible of the Crisis BR
What’s Next for the Rest of the U.S. BR

Europe
EU Steps Up to Fight Virus Crisis—And Show It Can Deliver W

China
Kept at Home, Many Chinese Fall Behind on Their Debts W

US politics
Governors Learn on the Fly How to Pitch Trump for Help W
Coronavirus live updates: US bank group warns of ‘massive’ delays in small-business rescue program C
Biden, Brain Trust Craft Agenda W

Industries & companies
Airlines: With Lockdowns, Airlines Learn to Manage Without Flying Many Planes W
Autos: Nissan-Renault’s Conundrum: How to Plan When ‘We’re Not Selling Anything’ W
Cruise lines: Carnival’s struggle to survive the coronavirus as outbreak wipes out the cruise industry C
FAANGs: A MacBook Air Review at the Worst Possible Time W
Materials: Big Stock Buys at Building-Materials Companies BR
Media: Google and Facebook Can’t Save the Advertising Industry This Time BR

Corporate finance
Bankruptcies won’t save retail this time C
If Companies Aren’t Buying Their Own Stock, Who Is? W

Virus I
U.S. Braces for Most Challenging Days Ahead in Pandemic W
Bill Gates calls coronavirus pandemic a ‘nightmare scenario,’ but predicts lower death toll than Trump C
America’s Hospital System Is About to Be Tested BR
Trump says 1,000 military personnel deploying to NYC, warns coming week toughest yet in virus fight C
Cuomo says New York could hit coronavirus peak in 7 days: ‘We’re not yet ready’ C
Coronavirus patients spend night on Navy hospital ship meant for non-infected New York patients C

Virus II
China is donating 1,000 ventilators to help New York in coronavirus fight C
Ventilator Manufacturing Ramps Up, but Not Quickly Enough W
The largest US employers are turning to thermometers to detect coronavirus C

Virus III
Pharmacies are struggling to keep key medication stocked as demand surges amid coronavirus outbreak C
As Countries Bar Medical Exports, Some Suggest Bans May Backfire W
Shortage of Test Components Forces Labs to Beg, Borrow and Improvise W
Amazon in contact with coronavirus test makers as it plans pandemic response C
States Try Curbing Malaria-Drug Hoarding Amid Unproven Coronavirus Benefit W

Cybersecurity
Zoom CEO: ‘I Really Messed Up’ on Security W

Technology
Reporting for Coronavirus Duty: Robots That Go Where Humans Fear to Tread W

Offbeat
How NYC moved the country’s largest school district online during the coronavirus pandemic C
New York Utility Workers Live at Job Site During Coronavirus Crisis W
The Big Question for Sports: When Will Fans Feel Safe? W

April 04 (Saturday)

YRI Express
Morning Briefing PDF 
Daily Markets

YRI Press
Watch Ed Yardeni and David Herro discuss the ‘silver linings’ in the market C

Markets
Dow drops 300 points as Wall Street volatility continues C
Saudi Arabia, Russia Press U.S. to Coordinate Oil Cuts; Prices Rise W
Trump Administration Discussed Shutting Oil Production in Gulf of Mexico W

Central banks
Fed Cuts Pace of QE Treasury Buying to $50 Billion Per Day B
Fed Unlikely to Order Big U.S. Banks to Suspend Dividends W
Covid-19, cash, and the future of payments

Global
Coronavirus pandemic economic fallout ‘way worse than the global financial crisis,’ IMF chief says C

US
March Job Losses Signal Bigger Collapse W
U.S. Employers Cut 701,000 Jobs in March W
Another figure in the jobs report paints an even gloomier picture of the coronavirus damage C
Here are the industries suffering the biggest job losses in an initial look at coronavirus impact C
Companies Try to Preserve Jobs by Cutting Pay Amid Coronavirus Crisis W
Residential construction is bright spot in jobs report, but more workers start to stay home C

US politics
Bank of America says 58,000 small businesses have asked for $6 billion in loans since 9 a.m. C
Kudlow Doesn’t See Significant Barriers for Small Business Loans B
Administration to Pay Hospitals to Treat Uninsured Coronavirus Patients W
This Tax Policy Idea Wasn’t on the Table. Then Famous Chefs Called the President. W
Pelosi Pares Goals for New Stimulus Bill With Eye on Faster Help B

Industries & companies
Airlines: US airlines must apply soon for coronavirus relief grants — then comes the hard part C
FAANGs: Exclusive: Amazon to delay Prime Day sales event due to coronavirus R
Financials: Wells Fargo, Other Lenders Miss Debut of Rescue for Small Firms B
Media: Disney sets new dates for ‘Mulan,’ ‘Black Widow,’ ‘Jungle Cruise’ and more C
Retail: Under Armour to Furlough 6,600 Workers W

Virus I
NY Gov. Cuomo says state saw its biggest single-day increase in coronavirus deaths on Thursday C
WHO says ‘more and more’ young people are dying from the coronavirus C
Coronavirus live updates: Airlines ordered to give customers refunds, Fauci warns about ‘knockout drug’ C
Coronavirus Puts At-Risk Older Doctors in Harm’s Way W
ConEd Hit by Virus as Cases in New York Surge Past 100,000 B

Virus II
Video: UPMC Vaccine Press Conference
Here’s the study behind why NYC Mayor de Blasio now recommends masks in public C
3M, Under White House Attack, Pushes Back W
New York, New Jersey Seize Ventilators Before Pandemic Crests B
Pentagon adjusts coronavirus screening process for care on hospital ship in New York C

Technology
U.S. and Europe Look to Track People to Slow Spread of Coronavirus W

Offbeat
Photos of field hospitals set up around the world to treat coronavirus patients C
Pentagon Will Accept Virus Patients at Javits Center in New York B
How lockdowns will take their own toll on health R
In a Pandemic, a New Worry: Touching the Payment Screen W

April 03 (Friday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Stock futures lower as indexes head for modest weekly losses C
Oil jump lifts Wall Street as jobless claims data surges R
Crude Leaps 25% on Hopes for End to Price War W
Trump’s Push for Huge Deal to Cut Oil Supply Draws Disbelief B
New Kind of U.S. Actively Managed ETF Starts Trading W

US
It could take 4 to 5 years for many Americans to recover wages lost to coronavirus C
Record 6.6 Million Americans Sought Jobless Benefits Last Week W
Job losses in March could be the worst in a decade, and that’s just the beginning C
Jobless Claim Surge Shows Pandemic Extending Its Grip W
Mortgage Defaults Could Pile Up at Pace That Dwarfs 2008 B

China
China’s New Coronavirus Policies Disrupt U.S. Air Cargo Operations W
Fresh Coronavirus Testing in China Finds More Symptomless Cases B

US politics
White House says small business lending program will be running Friday, even as JPMorgan says it’s not ready C
The Rush for $350 Billion in Small-Business Loans Starts Friday. Banks Have Questions. W
Government Doubles Interest Rate on SBA Loans After Banks Complain W
High Unemployment Numbers Show the CARES Act Is Doing Its Job
Democratic National Convention to Be Postponed Until Mid-August W

Industries & companies
Airlines: American Airlines cutting international summer schedule by 60% as coronavirus drives down demand C
Autos: Tesla soars on delivery numbers — company delivered 88,400 vehicles in Q1 C
FAANGs: Facebook expects to add 10,000 workers in product and engineering this year, says Sheryl Sandberg C
FAANGs: Amazon Has Hired 80,000 Workers Out of 100,000 Plan W
Industrials: GE to Furlough Thousands of U.S. Aviation Workers Due to Air Travel Slump W
Media: Disney to furlough non-union employees at theme parks, waives annual pass fees C
Pharma: Biotech Pioneer Amgen Joins Hunt for Coronavirus Drug W

Virus
U.S. Expected to Recommend Cloth Masks for Americans in Virus Hot Spots W
3M CEO Says Demand for N95 Masks Exceeds Its Capacity W
Trump Orders Output of Masks, Ventilators W
The Coronavirus Patients Betrayed by Their Own Immune Systems N
Defense department sees largest overnight spike in coronavirus cases C
Coronavirus Cases Top One Million Globally as Economic Toll Mounts W
The religious retreat that sparked India’s major coronavirus manhunt R

Technology
3-D Companies Tackle Coronavirus Supply Shortages W

Corporate finance
SoftBank Says It Won’t Buy WeWork Co-Founder Neumann’s Shares W
DOJ Probes Whether Taboola’s Deal to Buy Outbrain Would Harm Competition W

April 02 (Thursday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
Dow falls 900 points as Wall Street fears coronavirus will shut down economy longer than expected C
Stocks Fall 4% in Bleak Start to Second Quarter W
Just Like That, All the Confidence in the Stock Market Is Zapped B
Investors Are All Amateur Epidemiologists Now W
Brace for coronavirus fallout to take stocks to new lows, $107B money manager warns C
Whiting Petroleum Becomes First Major Shale Bankruptcy as Oil Prices Drop W
European Fund’s Investors Face Penalty Amid Losses W

US
March Factory Activity Gauge Just a Preview of April Stall W
Factories Cut Output, Jobs as Coronavirus Lockdown Bites W
U.S. Nonfarm Private Sector Lost 27,000 Jobs Amid Coronavirus W
White-Collar Job Security Exposes Huge Gap With Service Industry B
Coronavirus Pandemic Widens Divide Between Online, Traditional Businesses W
Who’s Hiring and Who’s Firing: How Firms Are Reacting to the Coronavirus W
Coronavirus Exacts Toll From Business Winners, Too W
Telemedicine, Once a Hard Sell, Can’t Keep Up With Demand W

US politics
Democrats Push to Address Infrastructure in Fourth Coronavirus Stimulus Package W
Treasury Department Selects Wall Street Banks to Advise on Airline Aid W
Trump to Meet With Oil CEOs About Helping Industry W
Biden Doubts Democratic Convention Can Be Held as Planned Due to Coronavirus W

Industries & companies
Autos: Worst yet to come as coronavirus takes its toll on auto sales C
FAANGs: Apple has a new agreement with Amazon that lets you rent movies through Prime Video on iPhone C
FAANGs: Amazon Struggles to Find Its Coronavirus Footing. ‘It’s a Time of Great Stress.’ W
Financials: Fed Temporarily Eases Capital Requirements for Big Banks W

Virus I
White House advisor Fauci says coronavirus vaccine trial is on target and will be ‘ultimate game changer’ C
Coronavirus could kill more Americans than WWI, Vietnam or Korean wars, White House projection shows C
Infected but feeling fine: The unwitting coronavirus spreaders
Why the Richest Country on Earth Can’t Get You a Face Mask W
China Asserts Claim to Global Leadership, Mask by Mask W
China hid extent of coronavirus outbreak, US intelligence reportedly says C
Trump says he doesn’t know if China underreported coronavirus numbers: ‘I’m not an accountant from China’ C
Italy’s Coronavirus Death Toll Is Far Higher Than Reported W

Virus II
Trump says he’s considering halting domestic flights between certain coronavirus hot spots C
New York City needs 3.3 million N95 masks and 400 ventilators by Sunday, Mayor de Blasio says C
Coronavirus live updates: US cases top 200,000, Georgia issues ‘shelter-in-place’ order C
Florida Issues Statewide Limits as U.S. Coronavirus Cases Mount W
The South, Sickest Part of a Sick America, Falls Prey to Virus B
Bend it like the Bay Area: Doctors see flatter curve after 2 weeks of social isolation

Virus III
Coast Guard: Cruise ships must stay at sea with sick onboard
Virus Grounds a U.S. Aircraft Carrier as Crew Quarantined in Guam W
Hospitals, Doctors Feel Financial Squeeze as Coronavirus Sweeps U.S. W
U.S. Plant Workplaces Emerge as Coronavirus Battlegrounds W

Corporate finance
AMC Entertainment Lenders Hire Lawyers for Restructuring Talks W
T-Mobile Absorbs Sprint After Two-Year Battle W
Xerox Is Ending Hostile Takeover Bid for HP W

Offbeat
Booming Interest in Zoom Cocktail Hours Comes With a Corporate Hangover W

April 01 (Wednesday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Dow drops 400 points as stocks close out their worst first quarter ever C
Cramer sees new five-minute test as possible turning point in coronavirus-driven market decline C
Oil-Price War Batters Poorer OPEC Members W
Food Security Fears Starting to Threaten Rice Exports in Asia B

Central banks
Fed Launches New Lending Facility for Foreign Central Banks W
Fed Takes on Role of World’s Central Bank by Pumping Out Dollars B

US
How Powell and Mnuchin Became the Duo in Charge of Saving the Economy N
How Mnuchin Became Washington’s Indispensable Crisis Manager W
Goldman sees 15% jobless rate and 34% GDP decline, followed by the fastest recovery in history C
Employers may drop 401(k) matches as companies look to cut expenses C
AI Hiring Expected to Show Resilience Amid Coronavirus Slowdown W

Geopolitics & trade
The Pandemic Won’t End Sino-American Tensions Over Huawei W
Huawei Warns U.S. of Retaliation by Beijing; Profit Growth Slows W

Industries & companies
FAANGs: Amazon and Microsoft actually ended the first quarter higher as most of the market tanked C
FAANGs: Amazon Struggles to Find Its Coronavirus Footing. ‘It’s a Time of Great Stress.’ W
FAANGs: NYC Mayor Bill de Blasio orders investigation of Amazon’s firing of strike organizer C
FAANGs: Apple Commits to Paying Contractors W
Retail: Largest US mall owner, Simon Property, furloughs 30% of workforce, adding to avalanche of coronavirus-related retail layoffs C
Retail: Walmart will start taking employees’ temperatures at all stores, distribution centers C

Virus I
U.S. Braces for Patient Surge as Virus Cases Climb W
Italy Hopeful That Coronavirus Pandemic Is Slowing Down W
Social Distancing Crushes Retail, Hotels, Dining B
U.S. Reviews Face-Mask Guidance as Europe Embraces Their Use W
Blood Plasma From Survivors Will Be Given to Coronavirus Patients N
FDA authorizes use of new two-minute test kit for coronavirus R
How Fauci Prods, Persuades Trump on Coronavirus Response W

Virus II
Hospitals Burn Through Cash While Congress Weighs Next Stimulus B
California Health Corps site scored 25,000 sign-ups in its first day, Governor Newsom says C
NYC to turn US Open tennis courts into hospital for coronavirus patients with hopes of playing in August, Mayor de Blasio says C
Rural hospitals and private medical practices struggle to stay open during the COVID-19 pandemic C
Coronavirus Prompts Hospitals to Find Ways to Reuse Masks Amid Shortages W
Aircraft carrier captain pleads for help after more than 100 crew are infected with coronavirus C
The Coronavirus Challenges Facing U.S. Farms: Get Workers, Keep Them Healthy W

Corporate finance
Caesars-Eldorado merger moving forward C
Xerox Is Ending Hostile Takeover Bid for HP W
Apple buys popular weather app Dark Sky and plans to shut down Android versions C

Technology
Charge a Car Battery in 5 Minutes? That’s the Plan

Cybersecurity
Watchdog Finds New Problems in FBI Surveillance Applications W

Offbeat
Washington State OKs Facial Recognition Law Seen as National Model W
Commerce Secretary Wilbur Ross works from home in Palm Beach as administration battles coronavirus C