April 23 (Thursday)

YRI Express
Morning Briefing PDF 
Daily Markets

Markets
U.S. Stocks Recover Some of Week’s Losses W
The Bonds the Fed Left Behind in Coronavirus Bailout Are Struggling W
Hedge Funds Suffer Largest Quarterly Withdrawals Since 2009 B
Cash is king as U.S. quarterly reporting season gains steam R

Commodities
Oil jumps 19%, clawing back some of the recent losses C
‘We Pulled the Plug’: As Oil Prices Plunge, Drillers in the Gulf of Mexico Shut Off Wells W
How Oil Markets Work, And Why Prices Fell Below Zero W
Negative Oil Prices Pose Headache for Futures Giant CME W
The oil ETF trying to avoid imploding on retail investors attempts another trick with reverse split C

US
America’s Middle Class Gets Hit With Office Jobs Disappearing B
11% of global CEOs fear their business won’t survive coronavirus: YPO survey C
McConnell Says He Favors Allowing States to Declare Bankruptcy B
Massive layoffs and pay cuts are likely coming to state and local governments as federal aid goes elsewhere C
Regulator Moves to Ease Crunch at Mortgage-Finance Companies W

US politics I
Mnuchin Says ‘We Need to Spend What It Takes’ to Overcome Crisis W
U.S. House expects to pass $500 billion coronavirus bill, avoids fight over remote voting R
Small-Business Loan Fund May Run Dry Again. Is There Another Way? W
Self-Employed Get Raw Deal in U.S. Multitrillion-Dollar Rescues B
Emergency Grants to Small Businesses Average $4,360 W

US politics II
Trump Administration Boosts Pressure on Harvard Over Stimulus Funds W
Princeton University Says It Won’t Take Federal Stimulus Money B
Billionaire Trevor Milton’s Nikola Motor received $4 million from coronavirus small business fund C

Europe
Millions of Europeans Are on Paid Leave. Governments Are Picking Up the Tab. W

Emerging
Putin’s problems mount as coronavirus hits Russian economy R

Industries & companies
Airlines: Delta Reports First Loss in Five Years W
Autos: Carmakers Headed for 50% Sales Plunge Can Breathe Sigh of Relief B
Autos: U.S. auto sales begin recovery from March coronavirus drop: J.D. Power analysts R
Autos: GM Shuts Down Car-Sharing Business W
Consumer: PG&E CEO to Step Down After Tumultuous Year W
Consumer: Kimberly-Clark’s Sales Top $5 Billion W
FAANGs: Flaw in iPhone, iPads may have allowed hackers to steal data for years R
FAANGs: iPhone SE: It’s for People Who Don’t Like New iPhones W

Virus I
In Georgia, a Divided View on Reopening Businesses W
WHO warns: Coronavirus remains ‘extremely dangerous’ and ‘will be with us for a long time’ C
Mortality Rates Tell True Tale of Coronavirus’s Effect W
Singapore Built a Virus App, but It Hasn’t Worked So Far W

Virus II
Pence Says U.S. Will Be Prepared if Second Coronavirus Wave Hits W
First U.S. Virus Death Came Weeks Before Previously Thought B
Health Chief’s Early Missteps Set Back Coronavirus Response W

Virus III
More deaths, no benefit from malaria drug in VA virus study C
SF expands testing to essential workers and uninsured residents, local governments left out of next US relief package C
Hospitals Aim to Resume Procedures Postponed by Coronavirus W
How Companies Are Finding Masks for Workers W

Corporate finance
A ‘Wave of Defaults’ Is Coming for Retail and Hotels, NYC Developer Says B
Facebook Bets $5.7 Billion That Mobile Giant Holds Key to India W
Victoria’s Secret Buyer Seeks to Cancel Takeover After Coronavirus W

Offbeat
Special Report: Peruvian coca farmers to Paris pushers, coronavirus upends global narcotics trade R