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