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