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Good Afternoon This week we're watching new signs of the pandemic's economic impact, possible disaster declarations in the U.S., and Congress's latest rescue package. Here's what you need to know, in under 4 minutes. |
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| The work week is coming. Be ready. |
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Labor figures to show scale of U.S. layoffs. State-level anecdotes suggest claims for unemployment benefits—a proxy for layoffs—could hit more than two million in Thursday’s Labor Department report. Long-term prospects are bleak, with predictions emerging for losses of up to five million jobs this year and a drop in economic output of as much as $1.5 trillion. |
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Marriott to furlough thousands. The company's decision will hit its corporate employees in the U.S. and abroad, continuing a massive shrinking of payroll as it ramps up hotel closings across the globe. |
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Worst of the selloff isn't here yet, analysts warn. Many market watchers say Wall Street is only now coming to grips with the economic damage being wrought by the virus. As well as the jobless claims, investors will be looking out for Tuesday's surveys of purchasing managers at businesses in the U.S., Europe and Japan and a measure of U.S. consumer confidence due on Friday. |
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More states could have major disaster declarations. President Trump said he was considering a declaration for California and other states as the number of confirmed coronavirus cases in the U.S. surged past 26,000. |
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Doctors administer steroids, against WHO counsel. Some doctors in China and Japan are using the drugs to treat coronavirus patients with difficult cases of pneumonia, generating a debate because the World Health Organization says they shouldn’t do so except in clinical trials. |
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U.S. considers special enrollment period for the ACA. A decision to open enrollment for the Affordable Care Act could boost the number of people with health coverage because 32 states rely solely on the federal exchange. |
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Rescue bill moving toward final Senate vote on Monday. Treasury Secretary Steven Mnuchin says the package, which is scheduled to go to a procedural vote this afternoon, comprises four main parts: small-business loans that may be forgiven if firms use them to keep workers on the payroll, direct cash payments to households, enhanced unemployment benefits and a $4 trillion lending facility supported by the Federal Reserve. |
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Lobbyists look to score wins for clients. Many U.S. companies and industries are furiously lobbying Congress to add measures to the package, which could top $1.3 trillion. |
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NYSE to close floor, go fully electronic. Investors will likely see little impact on the markets when the New York Stock Exchange temporarily closes its iconic floor on Monday, a decision it took after two workers tested positive for coronavirus. |
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Federations push for Olympics delay. Pressure is mounting on the International Olympic Committee to reschedule the 2020 Tokyo Games, with USA Track & Field and USA Swimming pushing for a postponement amid rising concerns about holding a major international sporting event during a pandemic. |
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| Long reads and smart WSJ analysis curated by our editors |
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| PHOTO: MIKE COPPOLA/GETTY IMAGES |
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There’s so much culture to see during quarantine. Musicians, comedians and other performers are taking to streaming platforms such as Instagram Live to make sure everyone is entertained—and their schedules are full. Here's the best of what's out there. |
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How to dress while working from home. What’s the accepted professional dress and grooming code if remote video chat is your daily routine? Here are six ways to deal with the new normal, when your only contact with your coworkers (and boss) is through your screen. |
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Five home workouts to try. It’s important to still get exercise while we’re hunkered down. Here are specially designed workouts you can do at home. |
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Lessons from six other disasters. From Spanish flu to Japanese tsunami, governments grappled with the trade-off between public health and economic stability. Crippling uncertainty has been a common theme throughout. |
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How one closure triggers a chain reaction. When Table 20 closed its dining room in Cartersville, Ga., the pain radiated out to a hydroponic farmer, a tablecloth supplier, a liquor distributor, a credit-card processor, a banker and countless others. |
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Will the coronavirus bring the end of globalization? The Covid-19 pandemic is closing borders and disrupting supply chains, but it can’t stop our long-term movement toward a more interconnected world, writes Zachary Karabell. |
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The South is Trump's to lose. The president is expected to do well in rural America this fall, but the margin of turnout could shape whether Democrats have a chance to win in the Deep South. |
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Baseball's home run revolution. In the 2019 season, Major League Baseball recorded 6,776 home runs, an all-time record. But all those homers don’t necessarily make for a better game, Jared Diamond writes. |
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When plastic bags get the sack. This month, New York joined the list of places that have banned single-use plastic shopping bags out of concern for the environment. But the choice between paper and plastic is more complicated than it sounds. |
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🎧 Listen to The Journal. While the pandemic brings much of the world to a halt, musicians, comedians and entertainers are trying to find ways to get their work out to the world. WSJ’s Charles Passy talks about the effects on the industry. |
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🎥 WSJ'S Paul Vigna breaks down last week's market winners and losers, and tells us what to look out for this coming week. |
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Senate Votes to Approve Equal Rights Amendment The U.S. Senate approved an amendment to the U.S. Constitution that would guarantee equal rights for both women and men under the law. However, the necessary number of states failed to ratify the amendment, meaning sex equality isn't protected under the U.S. Constitution, though all states and the federal government have passed legislation that protects the legal rights of women. |
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