Dr. Ed's Blog

March 31 (Tuesday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Wall Street rallies, led by healthcare jump R
Stocks continue their rebound from coronavirus plunge, Dow jumps 3% C

Commodities
Oil drops more than 6% to 18-year low as global demand evaporates C
Wheat and Rice Prices Surge in Coronavirus Lockdown W
Bacon Left Out of Surge Beef and Eggs Are Getting From Lockdowns B

Central banks
The Fed Transformed: Powell Leads Central Bank Into Uncharted Waters W
Bostic: Fed programs could be broadened if they have missed important parts of economy R
Janet Yellen Says Too Much Corporate Borrowing Will Hinder Economic Recovery W

US
Coronavirus job losses could total 47 million, unemployment rate may hit 32%, Fed estimates
Coronavirus jobs survey: 49% of companies considering layoffs, more than one-third freezing new hires C
Kohl’s will furlough about 85,000 employees, Macy’s furloughs majority as retailers cope with significant sales losses C
Fiat Chrysler temporarily cuts pay by 20% for salaried workers amid coronavirus pandemic C
U.S. pending home sales rise 2.4% in February R
Visa Says Consumer Spending Has ‘Sharply Declined,’ Even Online B
How to Avoid Another Great Recession W

China
A New Shortage in China’s Coronavirus-Hit Economy: Jobs for Biggest Graduating Class in Years W
Hidden Chinese Lending Puts Emerging-Market Economies at Risk W

US politics
After Three Coronavirus Stimulus Packages, Congress Is Already Prepping Phase Four W
U.S. to finalize fuel efficiency rewrite through 2026: sources R

Industries & companies
Autos: Coronavirus drives U.S. March auto sales off a cliff R
Pharma: Johnson & Johnson to Begin Human Trials of Covid-19 Vaccine by September W
Retail: Some Instacart and Amazon Workers Stay Home, Calling for More Pay in Coronavirus Pandemic W
Tech: Microsoft jumps 7% as cloud services see pickup C

Virus I
U.S. Extends Shutdowns as Virus Strains Hospitals W
Coronavirus live updates: USNS Comfort’s arrival draws crowds, nearly half of all companies considering layoffs C
Photos of the field hospital being built in New York’s Central Park C
Trump says a nationwide coronavirus stay-home order was discussed – but is ‘pretty unlikely’ for now C
Inside Sweden’s Radically Different Approach to the Coronavirus W

Virus II
Ford, GE plan to produce 50,000 ventilators in 100 days C
US industrial giant 3M scrambles to meet demand for face masks as coronavirus spreads C
Medical Companies Win Approval for Rapid Coronavirus Tests W

Corporate finance
Banks Stuck With $23 Billion of Loans for T-Mobile’s Sprint Deal B

Offbeat
I’ve Worked From Home for 22 Years. Here’s What I’ve Learned. W

March 30 (Monday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
The Dow Ignored the Spread of Coronavirus Last Week. It Won’t Be Able to Anymore. BR
Bear-Market Rally Doesn’t Signal Quick Revival for Stocks BR
The traditional 60/40 retirement portfolio of stocks and bonds loses 20% for only the fourth time C
Father of Wall Street’s ‘fear gauge’ sees wild volatility continuing until coronavirus cases peak C
Muni Bonds Have Started to Rally. Why You Should Get on Board — and Where to Find Bargains. BR
Earnings Season Will Be Ugly, but These Charts Offer a Bit of Hope BR

Central banks
Washington Rearms Fed After Central Bank Unleashes Firepower W
Fed Considering Additional Support for State, Local Government Finance W

US
Pandemic Compels Historic Labor Shift W
What life is like now for the 3 million Americans suddenly out of work MW
The Class of 2020 Was Headed Into a Hot Job Market, Until Now W
Uber drivers struggle to find income amid coronavirus pandemic C

US politics
After Three Stimulus Packages, Congress Already Prepping No. 4 W
Layoffs Spike. Aid Is Near. Will It Be Enough to Help? BR
Lawmakers Pack Federal Stimulus Bill With Pet Provisions W
Coronavirus: New York pushes Democratic presidential primary to June C
New Jersey Gov. Phil Murphy announces 90-day grace period on mortgages C

Geopolitics & trade
U.S. Plans to Stop Collecting Import Tariffs for Three Months, Officials Say  W

Industries & companies
Agriculture: Coronavirus hits already struggling US farmers with drop in prices C
FAANGs: Amazon entices warehouse employees to grocery unit with higher pay C
Pharma: Gilead Revamps Emergency Request Process for Experimental Drug W
Pharma: Big Pharma and Biotech Need to Do More in the Fight Against Covid-19 BR
Restaurants: The Coronavirus X-Factor for Restaurants: Drive-Through W
Retail: Coronavirus: Mall owner Taubman is telling tenants they must pay rent C
Tech: 25 Tech Stocks for a Post-Coronavirus World BR

Virus I
Covid-19 Could Infect Millions of Americans, Fauci Says. Up to 200,000 Could Die. BR
Trump will not impose quarantine on New York, New Jersey, Connecticut C
New York Cases Top 50,000. Here’s the Testing and Hospital-Bed Situation. BR
Ohio Governor On Why He Ordered Early, Tough Coronavirus Lockdowns W

Virus II
Coronavirus live updates: Italy’s death toll climbs to 10,779, UK lockdown could last six months C
Delays Preparing for Coronavirus Spike Push Spain’s Health Services to the Brink W
Exodus of Workers Reveals the Limits of India’s Coronavirus Lockdown W
China Closed All Its Movie Theaters Again

Virus III
Coronavirus could become seasonal virus like flu, top infectious disease expert warns
Manufacturers Seek U.S. Help on Where to Ship Medical Goods W
President’s Equipment Czar to Use Full Powers to Fight Coronavirus W
Coronavirus: New York orders thousands of manually operated pump ventilators C
New York City hospital criticized for slow coronavirus protections C
Coronavirus: Regulations slow hiring of doctors and nurses, staffing firms say C

Offbeat
The US economy has come to a standstill, satellite imagery shows C
Coronavirus and weddings: How to negotiate refunds and conduct Zoom ceremonies C
Social distancing phenom: Drive-ins boom as movie theaters close C

March 28 (Saturday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Dow drops more than 900 points on Friday, but still finishes higher for the week C
Stocks Drop, Pulling Back After Three-Day Rally W
High-Frequency Traders Feast on Volatile Market W

Central banks
Fed Considering Additional Support for State, Local Government Finance W

US
Coronavirus Measures Could Cut Economic Activity by a Quarter, Report Says W
Expect the Unexpected After the Crisis: Inflation

US politics
Trump to sign $2 trillion coronavirus relief bill at 4 pm C
Struggling Americans Can Tap 401Ks With Coronavirus Bill B
How airline workers won a $32 billion lifeline in the contentious coronavirus relief bill C
Joe Biden and Bernie Sanders haven’t aired TV ads in nearly 2 weeks as coronavirus spreads C

Industries & companies
Aerospace: Boeing to Emerge as Big Stimulus Winner W
Airlines: United Airlines warns aid isn’t enough to avoid workforce cuts C
Airlines: Southwest Says It’s Losing ‘Big Money’ on Every Flight B
Financials: ‘No layoffs’ — Bank of America CEO doesn’t want workers worrying about jobs during coronavirus crisis C
Financials: Banks Expect U.S. Crude’s Worst Year Since 2003 W
Industrials: Industrials track for best week ever, and these stocks could be a buy C
Retail: Kroger, Walmart have already hired tens of thousands of new employees C
Tech: One Business Winner Amid Coronavirus Lockdowns: the Cloud W

Virus I
U.S. Coronavirus Cases Approach 100,000; Boris Johnson Tests Positive W
Coronavirus live updates: France reports new spike in deaths, Congress green-lights relief bill C
Italy’s Slow Progress in Fighting Coronavirus Is a Warning to West W
San Francisco’s early restrictions seem to be helping hospitals avoid coronavirus overload — so far C
Coronavirus deaths in New York state break 500, Gov. Andrew Cuomo extends school closures C
Rhode Island Police to Hunt Down New Yorkers Seeking Refuge B
Four dead on Carnival-owned cruise ship amid new coronavirus outbreak aboard C

Virus II
Dr. Birx: Coronavirus Data Doesn’t Match The Doomsday Media Predictions
Man who spooked the world with coronavirus model walks back his prediction | Neil Ferguson Twitter
Don’t believe the headlines saying half the UK has had coronavirus
Univ. of Washington researchers predict 80,000 COVID-19 deaths in U.S. by July
Coronavirus modelers factor in new public health risk: Accusations their work is a hoax WP
Coronavirus: White House health advisor Fauci says US needs to be prepared for second cycle C
Sweden bucks global trend with experimental virus strategy FT

Virus III
Trump Orders General Motors to Make Ventilators W
WHO officials enroll first patients from Norway and Spain in ‘historic’ coronavirus drug trial C
Abbott Launches 5-Minute Covid-19 Test for Use Almost Anywhere B
Health Surveillance Is Here to Stay W
MIT Researchers Launch Location-Tracking Effort for the New Coronavirus W
Europe Tracks Residents’ Phones for Coronavirus Research W

Corporate finance
ViacomCBS Seeks to Raise $2.5 Billion in Debt Amid Stiff Coronavirus Headwinds W

Offbeat
Safety Advice If You Must Visit the Grocery Store W
A Real Digital Infrastructure at Last W

March 27 (Friday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Dow rallies more than 1,300 points, capping its biggest 3-day surge since 1931 C
Dow Enters New Bull Market With a 6% Rally W
Technically Speaking, the Dow Just Rocketed Out of a Bear Market B
Executives are buying stock in droves, giving a ‘strong’ signal that the comeback is for real C
Corporate Insiders Are Betting on a Rebound in Stocks W
Investors, Fearing Defaults, Rush Out of Junk Bonds W

Central banks
Fed to Launch Multitrillion Dollar Helicopter Credit Drop B
How the Fed’s Magic Money Machine Will Turn $454 Billion Into $4 Trillion N
How Far Could the Fed Go in Responding to COVID-19?

US
Powell Says Economy May Be in Recession, Virus Will Dictate Timetable W
Markets take 3 million claims in stride and now brace for ‘tsunami of negative news’ C
Record Rise in Jobless Claims Halts Historic Run of Employment Growth W

Europe
Europe Opts for Economic Freeze in Coronavirus Tradeoff W

China
China Seals Borders to Most Foreigners Starting Saturday B

US politics
House Ponders How to Pass Stimulus Without Spreading Coronavirus W
Spend Generously, Take Care of Workers: Coronavirus Stimulus Takes Lessons From TARP W
What’s in the $2 Trillion Senate Coronavirus Bill W
Small businesses get help in coronavirus relief bill. Advocates hope it’s enough C
Coronavirus stimulus checks will come within three weeks, Mnuchin says C
U.S. to Take Stakes in Airlines in Exchange for Grants, Mnuchin Says W
Relief Package Would Limit Coronavirus Damage, Not Restore Economy W
Congress’s coronavirus bill: A good start, but not yet a cure for an economic meltdown

Geopolitics & trade
U.S., China Trade Blame for Virus, Hampering Global Economy Rescue W

Industries & companies
Autos: Car Dealers Push Online Sales to Make Up for Coronavirus Losses W
FAANGs: ‘They’re putting us all at risk’: What it’s like working in Amazon warehouses amid coronavirus C
FAANGs: For Apple, Gauging iPhone Demand Gets Much Tougher W
Cruise lines: Major cruise lines could be left out of the coronavirus stimulus bailout C
Media: ViacomCBS’s Free Fall Forces Parent to Give Up Borrowing Power W
Media: Coronavirus Quarantine Boosts Streaming Video, but Not Advertising Yet W

Virus I
Trump Says Parts of U.S. Could Go Back to Work in a Few Weeks W
Trump plan calls for classifying coronavirus risk county by county C
Should We Wait Until Easter? W | UK has enough intensive care units for coronavirus, expert predicts

Virus II
Bill Gates says we can’t restart the economy soon and simply “ignore that pile of bodies over in the corner”
Fauci says US ‘can start thinking about’ getting back to normal when coronavirus spread slows C
Coronavirus updates: Cases top 500,000 amid warnings pandemic may be deadlier than 1918 flu C
New York coronavirus cases soar to 37,258 as state scrambles for ventilators C

March 26 (Thursday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Dow’s Rise Caps Its First Back-to-Back Gain Since February W
Appetite for Blue-Chip Corporate Bonds Improves Amid Market Stress W
Negative rates come to the US: 1-month and 3-month Treasury bill yields are now below zero C

Central banks
Against Coronavirus, the Fed’s Banking Stress Test Doesn’t Look So Bad W

US
Former Fed Chairman Ben Bernanke sees ‘very sharp’ recession, followed by ‘fairly quick’ rebound C
Coronavirus Shows Cash Is King, Even for Biggest U.S. Companies W
U.S. Income Tax Delay to Strain States W
California sees 1 million unemployment claims in less than two weeks C

China
Huawei Workers Return After Virus, but CEO Sees Financial Hit W

US politics
Bernie Sanders threatens to hold up coronavirus bill after 4 GOP senators push to cut unemployment aid C
Cuomo says Senate’s $2 trillion coronavirus bill would be ‘terrible’ for New York C
White House Scrambles to Develop Plan for Americans’ Return to Work W

Geopolitics & trade
U.S. Will Approve Some Delays in Tariff Payments Amid Coronavirus Crisis W

Industries & companies
FAANGs: Apple drops after report says company considers delaying next iPhone launch C
FAANGs: Amazon Closes U.S. Apparel Returns Warehouse Amid Worker Alarm B
Retail: Coronavirus Boosts Target’s Sales but Squeezes Profits W
Retail: Walmart to offer rent relief to shops within its stores and ease financing for suppliers C
Tech: Salesforce promises no ‘significant’ layoffs over the next three months, even with coronavirus spreading C

Virus I
Trump Says He Won’t Be ‘Rash’ in Reopening the Country B
WHO officials praise US leaders on coronavirus pandemic response: Trump is doing ‘all he can’ C
WHO Issues a Rare Public Scolding, Saying Countries Wasting Time B

Virus II
Coronavirus Cases Surpass 60,000 in U.S.; Spain Death Toll Overtakes China W
‘Most Since 9/11’: NYC Responders Deluged With Emergency Calls B
Idaho Gov. Brad Little issues stay-at-home order as more states tighten restrictions amid coronavirus outbreak C

Virus III
FDA warns consumers against fraudulent coronavirus tests, vaccines and treatments C
Drug shortage experts: What consumers need to know during the coronavirus pandemic C
SpaceX is making and donating hand sanitizer and face shields for the coronavirus effort, says internal email C

Technology
Tech’s Next Disruption Target: The Coronavirus W
Lacking Ventilators, Hospitals Seek Out an Alternative W

Corporate finance
Ford Becomes Largest Fallen Angel After S&P’s Cut to Junk B

Offbeat
Coronavirus Leaves Older Americans Cut Off: ‘We Have Been Trying to Fill That Void’ W
Job Hazard: Employees Don Masks, Meet Resistance W

March 25 (Wednesday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Stock futures slip following a historic rebound as massive stimulus deal nears C
Does Tuesday’s huge rebound mark the bottom for markets? Investors says one key piece is missing C
Bond Downgrades Begin Amid Coronavirus Slowdown W

Global
Coronavirus Triggers Record Drops in U.S., European Business Activity W

Central banks
Federal Reserve Taps BlackRock to Purchase Bonds for the Government W

US politics
Coronavirus stimulus talks drag on after lawmakers said deal was close C
Steven Rattner on Stimulus: ‘Better to Go Too Quickly and Too Heavily’ W
Joe Biden’s business allies are pushing Kamala Harris, Amy Klobuchar as potential VP picks C

Industries & companies
Aerospace: Boeing plans to restart 737 Max production by May, sources say C
FAANGs: Apple’s Market Cap Drops Below $1 Trillion W
FAANGs: Amazon has been the king of big tech stocks during the coronavirus sell-off C
FAANGs: Amazon’s Bezos, Other Corporate Executives Sold Shares Just in Time W
FAANGs: Facebook Usage Soars, But Online Advertising Plunges W
Retail: Coronavirus Reveals Retail Haves and Have-Nots W
Retail: Nike sales beat analysts’ estimates, but earnings fall, hurt by coronavirus pandemic C
Retail: Nike Says Digital Orders Offset Coronavirus Retail Damage W

Virus I
U.S. could be next ‘virus epicenter’ as India locks down, global recession looms R
White House tells anyone who has left NYC that they should self-quarantine C
Coronavirus: New York City to release 300 nonviolent inmates from Rikers Island C
FEMA Pulls Back From Defense Production Act Amid Mixed Signals W

Virus II
Trump Hopes to Have U.S. Reopened by Easter, Despite Warnings W
Doctors warn coronavirus deaths could ‘skyrocket’ if restrictions are loosened as Trump wants C
CVS CEO Larry Merlo: Lack of protective gear for workers has slowed rollout of drive-thru testing C
FDA will allow doctors to treat critically ill coronavirus patients with blood from survivors C

Virus III
A Plan to Get America Back to Work N
This cure is killing economy, crushing dreams — we need to figure out a better way P
China’s Progress Against Coronavirus Used Draconian Tactics Not Deployed in the West W
Europe’s Economic Recipe for the Pandemic: Keep Workers in Their Jobs W

Corporate finance
SoftBank to Sell $41 Billion in Assets, Signaling End of Buying Spree W

Cybersecurity
Cybercriminals Sweep In to Take Advantage of Coronavirus W

Offbeat
Japan, IOC Agree to Postpone 2020 Olympics W
The New Front-Line Coronavirus Workers: Grocery Clerks, Delivery Drivers W
More Than 750,000 Masks Auctioned for Huge Markup While Hospitals Run Out B

March 24 (Tuesday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Dow futures rise more than 300 points as Senate haggles over virus bill C
Dow sheds another 3% after coronavirus stimulus bill fails in Senate for a second time C
This was the fastest 30% sell-off ever, exceeding the pace of declines during the Great Depression C
Bond Markets Embrace Fed’s Latest Debt-Buying Programs W
Consumers could spend $20 billion less for gasoline this April as prices collapse in futures market C

Central banks
Fed aims ‘bazooka’ to backstop coronavirus-hit economy R
The Federal Reserve just pledged asset purchases with no limit to support markets C
The Fed is going to buy ETFs. What does it mean? MW
Fed surprises market with program to support corporate bonds amid coronavirus pandemic C

US
Companies Race for Cash in Coronavirus Crisis
CVS plans to hire furloughed workers from its customers as companies get creative during coronavirus

Europe
European Consumers Despondent as Lockdowns Spread W

US politics
No more votes expected Monday after Senate coronavirus stimulus bill fails again C

Industries & companies
FAANGs: Facebook is offering employees up to a month of paid leave to care for sick family members C
Industrials: GE to Cut 10% of Aviation Workforce as Coronavirus Grounds Airliners W
Tech: Twitter pulls first quarter guidance due to coronavirus C
Utilities: PG&E to Plead Guilty to Manslaughter Charges in Deadly California Wildfire W

Virus I
Coronavirus pandemic is accelerating as cases eclipse 350,000, WHO says C
UK Prime Minister Boris Johnson orders Britons to stay at home to halt spread of coronavirus C
Washington state Gov. Jay Inslee issues stay-at-home order amid the coronavirus outbreak C

Virus II
Trump Mulls Easing Social Distancing to Boost Economy W
Trump says businesses could reopen — soon — while fighting coronavirus C
Coronavirus Exacts Mounting Toll on Industry W
Grocers Stopped Stockpiling Food. Then Came Coronavirus. W
Inside the South Korean Labs Churning Out Coronavirus Tests W

Virus III                                                                                                                      
New York, New Jersey coronavirus ‘attack rate’ is 5 times higher than rest of US, top official says C
US health officials say 147 nursing homes have at least one resident with coronavirus C
One Nursing Home, 35 Coronavirus Deaths: Inside the Kirkland Disaster W
CDC says coronavirus survived in Princess Cruise ship cabins for up to 17 days after passengers left C

Corporate finance
SoftBank to Sell $41 Billion in Assets, Signaling End of Buying Spree W

Offbeat
As coronavirus forces millions to work remotely, the US economy may have reached a ‘tipping point’ in favor of working from home C
Internal memos by chief surgeon at New York-Presbyterian Hospital revealed new details about the coming threat
How volunteers from tech companies like Amazon, Apple and Google built a coronavirus-tracking site in six days C
Blood donations needed during coronavirus pandemic C
SEC warns on coronavirus insider trading after stock sales by NYSE chair, his wife Sen. Loeffler, 3 other senators C

March 23 (Monday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Wall Street braces for another bleak week, with coronavirus risks amplified R
Stock futures drop more than 4%, briefly hit ‘limit down’ as investors await a stimulus agreement C
The Worst of the Selloff Isn’t Here Yet, Banks and Investors Warn W

Credit & commodities
Treasury Market in Tumult Stares Down $340 Billion More Debt B
Virus and Oil-Price Plunge Buries Shale and Occidental’s Big Bet W

Central banks
Fed’s Bullard: Coronavirus shutdown not a recession but an investment in survival R

US
Top Economists See Echoes of Depression in U.S. Sudden Stop B
Coronavirus-Triggered Downturn Could Cost Five Million Jobs W
Big Companies Display Largess During Crisis—but for How Long? W
How CEOs Are Handling the Challenges of an Upside-Down World W

China
Coronavirus-Led Slowdown Tests the Mettle of China’s Shadow Banks W

US politics
Democrats Block Senate Economic Stimulus Bill as Talks Falter B
Coronavirus aid bill includes $3,000 for families, $4 trillion liquidity for Fed: Mnuchin R
The government budget deficit is about to explode to fight the coronavirus C
Biden Says ‘No Need’ to Postpone November Vote Over Virus B

Industries & companies
Agriculture: Coronavirus Hits Already Frail U.S. Farm Economy W
FAANGs: OK, Fine, Let’s All Get Back on Facebook W
Financials: Goldman makes bold upgrade of Boeing shares, saying it has enough cash and air travel will return C
Hotels: Marriott, Hotel Owners Furlough Thousands of Workers, Cut Staff W
Technology: Samsung’s Shift Away From China Looked Smart, Then Coronavirus Hit W

Virus I
Coronavirus cases top 300,000 worldwide as US becomes one of worst hit countries C
These charts show how fast coronavirus cases are spreading — and what it takes to flatten the curve C
New York state has more coronavirus cases than France or South Korea as infections soar to 15,168 C
Italy Bans Movement Inside Country as Another 651 People Die B
Jails Release Prisoners, Fearing Coronavirus Outbreak W

Virus II
Nearly a third of U.S. under orders to stay at home R
Trump activates National Guard in California, New York and Washington state: ‘This is a war’ C
A Onetime Germ-Warfare Site Is Army’s Front Line in Coronavirus Battle W
FDA grants ‘emergency use’ coronavirus test that can deliver results in 45 minutes C
Pence Vows Coronavirus Testing Backlog Resolved by Midweek B

Virus III
Sen. Rand Paul tests positive for coronavirus C
Chancellor Angela Merkel in quarantine after contact with doctor who tested positive for coronavirus C
Harvey Weinstein Tests Positive for Coronavirus, Deadline Says B
IOC Considers Postponing Tokyo Olympic Games W

Corporate finance
WeWork’s Board Prepares for a Fight as SoftBank Gets Cold Feet W

Offbeat
One start-up investor told companies to scrap 2020 forecasts and just get through the quarter C

March 21 (Saturday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Dow tumbles 900 points to end Wall Street’s worst week since 2008 C
‘Sell-Everything’ Strategy Is Causing Massive Credit Turmoil B
Traders Dread Getting Sent Home as Markets Move Faster Than WiFi B
Bond-Market Strains Keep Traders on Edge W
OPEC, U.S. Shale Producers Open Talks Amid Oil Rout W

US
Analysts Slash GDP Estimates as Coronavirus Ripples Through Economy W
What Business Is Essential? Many Companies Want to Join That List W
Stimulus Talks Focus on Cash Payments, Unemployment Insurance W
‘I Have Bills I Have to Pay.’ Low-Wage Workers Face Brunt of Coronavirus Crisis W
IRS extends tax filing deadline to July 15 as coronavirus spreads, Mnuchin says C

US politics
Trump Says He Will Use Defense-Act Powers to Boost Coronavirus Medical Supplies W

Industries & companies
Airlines: Passenger Airlines Start Shifting Idled Planes Into Freight Business W
Airlines: Delta warns second-quarter revenue to fall $10 billion because of coronavirus C
Airlines: United warns of possible job cuts if government doesn’t act quickly on coronavirus aid C
Autos: Auto Dealers Saw Minor Dip in Demand, Then the Bottom Fell Out B
Energy: Tens of Thousands Are Getting Laid Off in the U.S. Shale Patch B
FAANGs: Alphabet self-driving car company Waymo suspends all driving operations in Phoenix and Detroit, internal memos show C
Financials: Bank stocks are ‘very cheap’ after sell-off, traders say — here’s where they see signs of stabilization C
Retail: ‘Do we still have to pay rent?’ Retailers grapple with closed stores and coronavirus C

Virus I
Illinois, New York, California Tighten Restrictions to Fight Coronavirus W
Cuomo orders most New Yorkers to stay inside — ‘we’re all under quarantine now’ C
UK PM Boris Johnson announces nationwide lockdown measures, telling cafes, pubs and restaurants to close C
Rise in Coronavirus Deaths Spurs Calls for Tighter Lockdown in Italy W
Amid Coronavirus Threat, U.S. and Mexico Restrict Border Crossings Except for Trade and Workers W

Virus II
Hospitals set up coronavirus tents, seek emergency credit and $100 billion in US aid as they face onslaught of cases C
Coronavirus live updates: WHO warns of health system collapse C
Hospitals are still scheduling elective procedures during coronavirus crisis, and frontline medical workers fear they’re infecting patients C

Virus III
WHO officials say at least 20 coronavirus vaccines are in development in global race for cure C
Novartis to donate malaria drug in fight against coronavirus C
As demand for coronavirus testing grows, Walmart and Walgreens will soon open drive-through sites for first responders C
Lessons for the Coronavirus Crisis From Six Other Disasters W
FDA says it won’t take action against manufacturers that start making hand sanitizer C

Corporate finance
McDonald’s suspended its $15 billion buyback program several weeks ago C
Macy’s taps $1.5 billion credit line, suspends earnings outlook and dividends amid coronavirus C
The Biggest Utility Bankruptcy in U.S. History Nears an End B
J. Crew Suspends Madewell Spinoff Needed to Cut Debt Load B
Occidental Holds Talks With Investors to Address Debt Pile B

Offbeat
Elon Musk’s Defiance in the Time of Coronavirus W

March 20 (Friday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Stock market today: Futures point to 300-point drop for the Dow, reversing Thursday’s gains C
U.S. Stocks Push Higher Amid Central Bank Action W
Companies Are Suspending Dividends Because of the Coronavirus W

Markets II
U.S. Eyes Intervention in Saudi-Russia Oil Standoff W
The Next Pandemic Financial Crisis: Record Piles of Risky Corporate Debt W
Shutting Markets Isn’t the Solution to What’s Wrong W

Central banks
As Treasury yields rise, investors see possibility of Fed yield curve control R
Fed Ramps Up Bond Buys, Indicating Much Larger Purchases Are Likely W
Fed’s Rosengren says liquidity tool meant to prevent run on prime money market funds R
ECB to Launch New Bond-Buying Program W

US
U.S. jobless claims could top record 1.5 million next week: economists R
COVID-19: Implications for business
As Businesses Shut, How Many U.S. Workers Can Work From Home? W
To Fight Coronavirus, Colleges Sent Students Home. Now Will They Refund Tuition? W

US politics
Coronavirus relief bill: Senate GOP releases plan with up to $1,200 in cash payments C
Coronavirus bailouts: Trump would consider federal equity stakes in companies C
Trump invokes Defense Production Act: What is it? Fox
Coronavirus: Trump aide Peter Navarro slams Big Pharma C
McConnell Unveils GOP Stimulus Plan Amid Coronavirus Crisis W
Coronavirus: National Retail Federation asks Trump for clarity C

Virus I
U.S. Coronavirus Cases Exceed 10,000 W
Coronavirus live updates: US-Mexico border restrictions expected, NYC has 3,615 confirmed cases C
Coronavirus death toll: Italy’s is now higher than China’s C
Citing coronavirus risks, U.S. to urge Americans not to travel abroad-official R
Coronavirus: CVS’ first drive-up testing site opens in Massachusetts C
America Has a Lot of Food. Moving It During Coronavirus Is Hard. W
Coronavirus: It’s not impossible to live under a lockdown C

Virus II
U.S. Moves to Expand Array of Drug Therapies Deployed Against Coronavirus W
Early Coronavirus Drug Trials Yield Mixed Results B
Potential coronavirus treatment touted by Trump already in shortage, pharmacists say R
Old malaria drug hydroxychloroquine may help cure coronavirus: study P
Wanted: People Willing to Get Sick to Find Coronavirus Vaccine W
Ventilator Makers Ramp Up Production Amid Coronavirus Crunch W

Industries & companies
Aerospace: Boeing Considers Dividend Cut, Layoffs Amid Cash Drain W
Aerospace: Former UN ambassador Haley resigns from Boeing board, opposing government aid C
Airlines: American Airlines CEO says the coronavirus crisis is worse than 9/11 for the industry C
Autos: Tesla suspends Fremont production to Mar. 23 amid coronavirus outbreak C
FAANGs: Facebook bans ads for hand sanitizer, COVID-19 test kits C
Media: Coronavirus pushes ‘Minions: The Rise of Gru’ from July release date C
Restaurants: Domino’s expects to hire 10,000 workers C

Offbeat
World’s Richest Spend $1 Billion on ‘Bargains of a Lifetime’ B