May 02 (Saturday)

YRI
Morning Briefing PDF 
Daily Markets

Markets
Wall Street tumbles as renewed tariff threat adds to uncertainties R
Tech Giants Pull Stocks Lower as Dow Falls More Than 600 Points W
Oil Market Showing Signs of Life as Producers Plan Output Cuts B

Central banks
Fed officials worry about lasting economic scars from crisis R
Fed Rebuked Over Loan Terms That Don’t Explicitly Bar Layoffs B
More ECB Bond Buying Is a Matter of Time as Debt Balloons B

US
Coronavirus Prompts Biggest U.S. Manufacturing Pullback Since Last Recession W
For Small Businesses With High Rents, Coronavirus Aid Falls Short W
The Covid-19 Rent Crisis Is Here

Europe
As Europe’s Economy Founders, ECB Signals Readiness to Act W

US politics
White House blocks Fauci from testifying at House coronavirus hearing C
New White House press secretary breaks with Trump tradition by holding a traditional briefing C
Dems Snuck A $15 Minimum Wage Into The CARES Act — And We’ll All Pay The Price

Geopolitics & trade
North Korean state media reports Kim Jong Un has resumed public activity C
U.S. Moves to Curb Foreign Electric Gear W

Industries & companies
Autos: Carmakers Dodge Disaster With Biggest-Ever Share of 0% Loans B
Autos: U.S. Auto Sales Fell in April, but Signs of Hope Are Seen W
Autos: Elon Musk Tweeted That Tesla’s Stock Was Too High. The Market Agreed. W
Energy: A Dismal Outlook for Oil Squeezes the Industry W
Energy: Exxon Posts First Loss in Decades as Oil Giants Signal Trouble Ahead W
FAANGs: Amazon CEO Bezos Called to Testify Before Congress W
Retail: Estee Lauder CEO: ‘Consumer finds a way to get the product,’ as online sales grow double digits C

Virus I
U.S. Probes University of Texas Links to Chinese Lab W
Differing Rules Show Lack of Consensus on State Reopenings W
Local, Practical, Apolitical: Inside Germany’s Successful Coronavirus Strategy W
A Smartphone App Tries to Guide the Way Out of Coronavirus Lockdowns W

Virus II
Gilead gets emergency FDA authorization for remdesivir to treat coronavirus, Trump says C
Remdesivir coronavirus treatment will need a ‘sustainable model’ to keep it accessible, Gilead CEO says C
Blood-Pressure Drugs Don’t Raise Coronavirus Risk W
Thinly Staffed Nursing Homes Face Challenges in Pandemic W

Corporate finance
Sur La Table Is Preparing for Bankruptcy B
Private Equity Poised to Face a Reckoning After Gilded Decade B
Apollo Is Latest Private-Equity Firm Hammered by Coronavirus Rout W

Offbeat
The U.S. Needs Way More Than a Bailout to Recover From Covid-19 B