May 09 (Saturday)

YRI
Morning Briefing PDF 
Daily Markets

Markets
Dow rises more than 400 points despite record job losses C
S&P Rally Reaches Escape Speed Even as Earnings Slide B
Why the stock market is up even with historic job losses C
Traders Are Baffled Why the Futures Market Is Pricing in Negative Rates B

Central banks
Buybacks Are an Endangered Species. Will the Fed Buy Stocks? B

US I
A record 20.5 million jobs were lost in April as unemployment rate jumps to 14.7% C
This chart shows how coronavirus jobs losses dwarf those in prior recessions C
As unemployment surges, essential workers fear calling out sick could cost them their jobs C
Here’s why restaurants reopening could be good news for summer jobs C
When will restaurants and bars reopen? Here’s what experts are saying C

US II
SBA Veered From Guidelines on Small-Business Loans, Report Says W
Americans Are Pumping Gas Again as States Reopen W
Virus Pushes America’s Hospitals to the Brink of Financial Ruin B

US politics
Trump in ‘No Rush’ on New Relief Bill After 20 Million Jobs Lost B
Formal Talks Paused on Next Stimulus Package, Trump Adviser Says W
Democrats want to give Americans $2,000 a month during coronavirus crisis C

Geopolitics & trade
US drafts rule to allow Huawei and US firms to work together on 5G standards, sources say C

Industries & companies
FAANGs: Apple to reopen stores in US starting next week C
FAANGs: Alphabet CEO in internal memo: Offices reopening at 10% to 15% capacity starting in June C
Media: Media companies expect a tough quarter for TV advertising, with no live sports and spending delayed C

Corporate finance
United Air Scraps $2.25 Billion Bond Deal After Terms Disappoint B
JC Penney in talks to fund potential bankruptcy filing next week C
Department stores had an insane week. Here’s everything that happened C

Virus
Coronavirus live updates: ‘Delayed epidemic’ takes hold in eastern Europe, Italy reaches 30,000 deaths C
Melinda Gates says US coronavirus response is ‘chaos,’ gives Trump administration a D-minus grade C
Vice President Mike Pence’s press secretary tests positive for coronavirus C
A Chaotic Gray Market Determines Who Gets Coronavirus Gear—and Who Doesn’t W

Offbeat
Is 5G Going to Kill Us All?