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Quote of the Day
"The stock market doesn’t care that people are getting fired today or last week. The stock market is thinking about how many people might get fired next week, next month and next year."
(Cullen Roche)
Markets
- Mom and Pop investors are still sitting on the sidelines. (sentimentrader.com)
- Where dividend cuts are happening, sector-wise. (politicalcalculations.blogspot.com)
- A two-minute primer on what it's like to trade. (howardlindzon.com)
Companies
- Amazon ($AMZN) is trying to tamp down on non-essential orders. (wsj.com)
- Google ($GOOGL) is going to slow its hiring in 2020. (bloomberg.com)
- Grocery delivery has been unable to keep up with demand. (washingtonpost.com)
- Intuit ($INTU) does not miss a beat. (propublica.org)
- DraftKings is still coming public. (variety.com)
Finance
- Credit card spending fell some 30% at the end of March. (ft.com)
- Loan losses are coming, the only question is when and how much. (economist.com)
- How much of the past decades stock buybacks were financed by debt? (ftalphaville.ft.com)
Funds
- Mutual funds and ETFs saw $326 billion of outflows last month. (morningstar.com)
- Blackrock's ($BLK) AUM fell some $900 billion in Q1. (ft.com)
- Do individual investors really need better access to low-cost alternative investment vehicles? (institutionalinvestor.com)
Covid-19
- US testing for Covid-19 has inexplicably flattened out. (calculatedriskblog.com)
- Massachusetts is hiring people to do coronavirus case trcing. (nytimes.com)
- Rapid coronavirus tests can generate false negatives if used in a particular manner. (statnews.com)
Global
- Germany is set to begin some of the restrictions on public life. (ft.com)
- While Japan is having to increase restriction in light of growing case counts. (wsj.com)
- What can the US learn from Singapore's relative success with the coronavirus? (nytimes.com)
- Apple ($AAPL) is preparing to re-open its Seoul, South Korea store. (theverge.com)
Housing
- Housing start fell off a cliff in March. (calculatedriskblog.com)
- iBuyers, like OpenDoor, are laying off employees. (media.thinknum.com)
Jobs
- Weekly initial unemployment claims once again came in at over 5 million. (calculatedriskblog.com)
- A decade's worth of jobs growth has been erased in a month. (npr.org)
- We need higher frequency data to get a hold on the employment situation. (ritholtz.com)
Earlier on Abnormal Returns
- Startup links: lengthened runways. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: anything is good. (abnormalreturns.com)
Mixed media
- Michael Che is helping out New Yorkers with rent to honor his grandmother, who died of the novel coronavirus. (people.com)
- Cummins ($CMI) is helping 3M ($MMM) make respirator filters. (insideindianabusiness.com)
- How American Roots went from making hoodies to masks. (washingtonpost.com)
- Somebody just paid all the water bills in this small town. (indystar.com)
