Friday, May 22, 2020
4:21 pm ET: Wall Street Ends a Choppy Day Mostly Higher; Crude Oil Falls
Wall Street shook off a weak start and ended a wobbly day mostly higher. The S&P 500 rose 0.2% Friday, bringing its weekly gain to 3.2%. Crude oil prices fell after notching six straight gains, which weighed on energy stocks. Read more...
— The Associated Press
3:26 pm ET: Trump Deems Houses of Worship 'Essential,' Calls for Them to Reopen
President Donald Trump said Friday that he has deemed churches and other houses of worship “essential" and called on governors across the country to allow them to reopen this weekend despite the threat of spreading the coronavirus.
“Today I’m identifying houses of worship — churches, synagogues, and mosques — as essential places that provide essential services," Trump said during a hastily arranged press conference at the White House, where he didn't take questions. He said if governors don’t abide by his request, he will “override” them, though it’s unclear what authority he has to do so. Read more...
— The Associated Press
3:07 pm ET: Going Out This Memorial Day? Best Practices for a Safe Holiday
While the choice to get out this Memorial Day is ultimately a calculated personal risk, many are hoping to find a way to see friends and family for the first time in months.
Even as cases begin to decline nationally and pharmaceutical companies offer optimistic updates on the development of drug treatments for COVID-19, public health officials have been firm in their insistence that now is not the time to return to our normal lives.
At the same time, there is growing scientific evidence that outdoor, socially distanced interaction is largely safe, and with that has come a new set of best practices to keep in mind if you're going to host or attend a small social gathering for the holiday. Read more...
— Alex Vuocolo
1:26 pm ET: Cheddar's Advice for the Class of 2020
It's a chaotic, uncertain time for new college grads, but Cheddar's own anchors have some completely unsolicited, timeless advice to drop and congratulations to offer for the Class of 2020.
12:07 pm ET: Baseball Players Respond to MLB on Virus Protocols
The baseball players' association gave management a wide-ranging response Thursday to a 67-page proposed set of protocols for a season to be played during the coronavirus pandemic.
Management had presented the union and the 30 teams the proposed draft last Friday. Read more...
— The Associated Press
10:33 am ET: Wall Street Opens Lower, but Still on Track for Weekly Gain
Stocks are opening lower on Wall Street following a mixed showing in overseas markets. The S&P 500 fell 0.4 percent in early trading Friday, but it’s still on track for a weekly gain. Hong Kong's main index fell 5.6 percent after China made more moves to limit political opposition in the former British colony. China also abandoned its longstanding practice of setting economic growth targets. European markets shook off some early weakness and were mostly mixed. Oil prices headed lower after six straight gains, which weighed on energy stocks. Trading was subdued ahead of the Memorial Day holiday in the U.S. Read more...
— The Associated Press
8:10 am ET: Need2Know: Aunt Becky Pleads Out, 'Terror' Shooting Stopped & Tiger v. Phil
Get your news over easy every morning by listening to the Need 2 Know podcast (Stitcher, iTunes) and signing up for our morning newsletter.
COVID-19: LATEST DEVELOPMENTS: President Donald Trump said the U.S. will not shut down again if it's hit by a second wave of coronavirus, which many public health experts say is a possibility. “We are going to put out the fires. We’re not going to close the country,” Trump said while touring a Ford plant in Michigan that's producing ventilators. Notably the president was not wearing a mask when he was in front of news media cameras. CNBC
HONG KONG SECURITY LAW: China is moving to take broad control of Hong Kong via a new set of national security laws that would ban protests and other forms of dissent, a hugely controversial push that could drastically change the foundation of the global city. When China gave up control of Hong Kong in 1997, Beijing promised to preserve the city’s way of life. WSJ
AUNT BECKY TAKES A PLEA: Lori Laughlin and her husband Mossimo Giannulli have decided to plead guilty to charges of conspiracy in connection with their roles in the wide-ranging college admissions cheating scandal. Subject to court approval, Laughlin will serve two months in prison, and Giannulli will serve five. They will enter their official pleas today. CNN
'TERROR RELATED' SHOOTING: The FBI says a shooting at a naval facility in Corpus Christi, Texas was “terrorism-related.” The gunman was killed before he was able to injure anyone. Earlier this week, the FBI said it believed a shooting at another military base in Florida had ties to Al Qaeda. Three U.S. soldiers died in that attack. NBC NEWS
UNEMPLOYMENT CRISIS: Another 2.4 million Americans filed for unemployment benefits last week, bringing the total pandemic-related job losses to more than 38 million. The data does not account for self-employed or gig workers, who are drawing unemployment via a specific coronavirus federal program. While the weekly number remains astronomical, it is down from the initial surge in March. MARKETWATCH
STARBUCKS SKIPPING OUT ON RENT??? Starbucks is asking landlords across many of its 8,900 company-owned stores to renegotiate rental agreements, citing the "staggering economic cost" of coronavirus. The company sent out a letter saying it will "require concessions" to maintain operations for at least the next year. Landlords, understandably, weren't happy. THE SEATTLE TIMES.
GOLF CHARITY EVENT: Golf fans are in for a treat this weekend when Tiger Woods and Peyton Manning tee off against Phil Mickelson and Tom Brady in a charity match. The action gets underway Sunday at 3 pm ET on TNT and TBS. GOLF.COM
TOM BRADY DOC: After the massive success of the 10-part Michael Jordan docuseries The Last Dance, ESPN has immediately gotten to work on a similar doc, this time following Tom Brady. The Man in the Stadium is in production, with a release scheduled for next year. WATCH THE TRAILER
'SOME GOOD NEWS' SOLD: John Krasinski’s hit YouTube series Some Good News is going to CBS. ViacomCBS has licensed the series, winning out in a “massive bidding war.” Future episodes will air on CBS All Access at first, and while Krasinski will remain involved, he will not host the show. THR
LEFTOVERS: SORRY, WRONG NUMBER: A 25-year-old Sephora employee from California has been fielding calls and texts meant for Elon Musk for years now, having been given his old recycled cell phone number by AT&T. Lyndsay Tucker says she’s received calls from the IRS, texts with blueprints for a bionic arm, and requests to buy a Tesla Cybertruck. She says her phone blows up every time Musk is in the news for doing something controversial, and she has to convince people she’s not the billionaire entrepreneur. SEE THE TEXTS
