April 29 (Wednesday)

YRI
Morning Briefing PDF
Daily Markets

Markets
U.S. Stocks Tick Modestly Lower W
Oil drops 3% in volatile session C
Junk Bonds Bounce Back, Raising Hopes—and Concerns W
Illinois Plans to Sell $2 Billion in Bonds Amid Pandemic Strain B

Central banks
CNBC Fed survey: The US will need to spend trillions more as economy takes until 2022 to fully recover C

US
Manufacturers Hit a Wall as Coronavirus Saps Demand W
Coronavirus Relief Often Pays Workers More Than Work W
Even for Companies With Business From Coronavirus, the Picture Is Mixed at Best W
States need revenue. These taxes might go up C
U.S. Audits of Small-Business Loans Face Daunting Challenges W

Emerging
China’s $600 Billion Bet to Revive Growth With Infrastructure B
China Growth Revival, Expansion Ends, QE’s New Ground: Eco Day B
China’s Massive Banks Are Facing a $42 Billion Dividend Trap B
Singapore Banks Set to Post First Profit Decline Since 2016 B
IMF Approves $3.4 Billion in Emergency Funding for Nigeria B

US politics
Leading Democrats Stand Behind Biden After Sexual-Assault Allegation W
Trump Ties Virus Aid for States to Action on ‘Sanctuary’ Cities B

Industries &  companies
Autos Ford projects adjusted pretax loss of $5 billion in the second quarter C
FAANGs: Alphabet stock rises more than 7% as ad slowdown turns out to be less than feared C
FAANGs: Alphabet Shares Jump on Google Cloud, YouTube Expansion B
FAANGs: Google Revenue Climbs, but Company Warns of ‘Tale of Two Quarters’ W
Financials: HSBC’s Loan Losses Hint at Tougher Times for Banks W
Restaurants: Starbucks shares fall after coffee chain warns US cafe closures to deal hefty blow to earnings C
Semiconductors: AMD Falls on Weak Revenue Projections, In-Line Earnings B

Virus I
Coronavirus live updates: US cases top 1 million, California to ‘gradually’ reopen once testing improves C
European Countries Move Closer to Reopening Continent W
The biggest US mall owner prepares to reopen 49 properties. Here’s how that will work C
Connecticut Governor Ned Lamont wants state’s colleges open in fall C
Trump plans to order meatpacking plants to remain open C

Virus II
Apple iPhone contact tracing: How it came together C
Coronavirus Updates: Sales Rise for Mondelez; McConnell Wants to Shield Companies From Liability W
Coronavirus: Mike Pence visits Mayo Clinic without mask despite Covid-19 C
Quest Diagnostics rolls out direct-to-consumer coronavirus antibody tests C
Race for Coronavirus Vaccine Accelerates as Pfizer Says U.S. Testing to Begin Next Week W

Corporate finance
Companies Are Suspending Dividends at Fastest Pace in Years W

Offbeat
Some School Districts Plan to End the Year Early, Call Remote Learning Too Tough W
Should You Wear a Mask When Exercising Outdoors? W
Coronavirus has ‘magnified’ US workplace safety weaknesses, unions say C