May 07 (Thursday)

YRI
Morning Briefing PDF 
Daily Markets

Market
Dow falls for the first time in 3 days, drops more than 200 points C
Oil drops 2%, snapping five-day winning streak in volatile trading session C
Surging small cap stocks offer hope of U.S. growth rebound R

US
This is the jobs number that will show how fast the labor market can heal C

Europe
Coronavirus Projected to Send Eurozone Into Steep Recession W

US politics
BlackRock’s Fink Delivers Grim Outlook With Tax Hikes for Corporate America B
Deficit Fears Put Senate Republicans and Trump on Collision Course W
U.K. Tests Contact-Tracing App to Guide Way Out of Coronavirus Lockdown W

Geopolitics & trade
Coronavirus Casts Deep Chill Over U.S.-China Relations W
Chinese Chip Giant Prepares to Build Its War Chest During U.S.-China Tech Battle W

Industries & companies
Airlines: Airlines want relief from flying near-empty planes as passenger numbers hit lowest since the 1950s amid virus C
Consumer: Peloton sales surge 66%, as more people buy bikes during coronavirus pandemic; shares jump C
Cruise Lines: Senators Call for Investigation Into Carnival Over Virus B
FAANGs: Facebook-Backed Libra Project Gets New CEO W
FAANGs: Google tells employees they can’t expense food or other perks when working from home C
Media: Shanghai Disneyland will offer Disney a blueprint for how to reopen its other theme parks C
Media: MGM Resorts Warns 63,000 Workers of Possible Layoffs W
Pharma: Will Gilead price its drug for public good or profit? R
Retail: Costco’s Sales Fall for First Time in Over a Decade W
Retail: U.S. to Experience Uneven Retail Recovery, Industry Group Says B
Tech: Lyft shares jump 15% as company reports more riders than last year despite coronavirus C

Virus I
Coronavirus live updates: New Jersey extends public health emergency, Texas and Georgia restaurants slow to reopen C
U.S. Virus Cases Top 1.2 Million, as Trump Refocuses Task Force W
Trump Says Coronavirus Task Force to Continue Indefinitely W
Cuomo says it’s ‘shocking’ most new coronavirus hospitalizations are people who had been staying home C

Virus II
Germany to Reopen Most of Its Economy in Coming Weeks W
How Germany Kept Its Factories Open During the Pandemic W
For Asia, Risks From Novel Coronavirus Weren’t So Novel W

Virus III
‘Today’s norm to tomorrow’s everyday routines,’ CVS CEO says the pandemic will change customers’ shopping, health-care habits C
Severity of COVID-19 may depend on where you’re located on the map, new study suggests
California Canceled Large Coronavirus Mask Order W

Offbeat
Airbnb hosts are building their own direct booking websites in revolt C
‘Very unusual’: Arctic air set to hit Eastern US with record-low temperatures for May C