March 02 (Monday)

YRI Express
Morning Briefing PDF I Audio Excerpts
Daily Markets Overview
(also see new Chart of the Day below)

Markets
Dow futures drop 200 points, indicating another rough week ahead for Wall Street C
Shrinking Profit Prospects Add to Threat for Stocks W
JPMorgan, Citi and Goldman Sachs all believe there hasn’t been enough pain to call a bottom yet C
The Dow Had Its Worst Week Since 2008. Where to Find Cash-Rich Stocks in the Coronavirus Selloff. BR
Health Care Stocks Aren’t Alone in Getting a Coronavirus Boost W
Reinstating [uptick] rule would help the market more than a rate cut, Leon Cooperman says C
Asian markets extend falls as coronavirus spreads R

Credit & commodities
Implied yield on U.S. 10-Year treasury futures trading below 1% for first time R
Negative U.S. Yields Are in Sight as Virus Spurs Recession Bets B
Oil bounces from multi-year lows as hopes of OPEC+ cut, stimulus offset virus impact R
Oil’s Collapse Interrupted by Russian Commitment on Output Cuts B

Central banks
Goldman now sees the Federal Reserve getting even more aggressive in the face of coronavirus scare C
U.S. bank lobby economist predicts global rate cut coming … this Wednesday

US
U.S. officials talk down coronavirus market panic, tout economic strength R
Virus recession? Top economist Ed Hyman sees zero US growth the next two quarters C

China
China’s Push to Jump-Start Economy Revives Worries of Fake Data B
China Purchasing Indexes Drop to Record Lows W
Coronavirus Is Hitting China’s Economy Harder Than Expected BR
HNA, Hit by the Coronavirus, Is Effectively Taken Over by the Government W
As Coronavirus Hits China’s Car Sales, Auto Makers Take Show Online W

US politics
Biden Wins South Carolina Democratic Primary W
Businesses Fret Over Potential Bernie Sanders Presidency W
Warren’s Ground Game Faces Biggest Test on Super Tuesday W
Pete Buttigieg is dropping out of the 2020 Democratic presidential primary C

Virus I
Coronavirus Is Different. It’s Rapidly Hitting Supply and Demand. W
By the Numbers: How the Coronavirus Epidemic Is Hitting Businesses Around the World W
Coronavirus Is Disrupting Supply Chains. These Industries Are Most Vulnerable. BR
How the Coronavirus Will Challenge the Health-Care Industry BR
Big Drugmakers Warn About Coronavirus Impact on Business W
Pandemic Panic Fattens Fortunes in Health Care and Tech B
Coronavirus to Test Small-Business Optimism W
What Big Companies Are Doing to Prepare for Coronavirus Fallout BR

Virus II
Ex-FDA Chief Expects U.S. Coronavirus Cases to Jump Rapidly B
‘This Will Be a Long Battle’: More Countries Report First Coronavirus Deaths W
New York confirms first coronavirus case; U.S. ramps up preparations R
New York State, California Report New Cases: Virus Update B
Trump Team Testing ‘Off-the-Shelf’ Drugs to Cure Coronavirus B
Gilead Sciences Could Have a Coronavirus Cure. Could It Also See a Shakeup? BR
U.S. Surgeon General Urges People to ‘Stop Buying Masks’ B

Geopolitics & trade
Turkey’s Killer Drone Swarm Poses Syria Air Challenge to Putin B
Huawei Seeks Advisers for U.S. Image Makeover W

Industries & companies
Financials: AmEx Staff Misled Small-Business Owners to Boost Card Sign-Ups W
Media: How Bob Iger Unified Disney’s New Magic Kingdom W
Tech: How Venture Capital Became Intel’s Answer to ‘Massive Disruption’  BR
Telecom: Walmart, Verizon in Talks to Test 5G Services in Some Stores W
Telecom: T-Mobile Vows to Fight FCC Fines for Location Sharing W

Offbeat
Homes along Lake Erie are covered in ice following two days of gale-force winds NN