Today's Top Stories: April 9, 2020
Channel: My Daily Grind News
Date: 09/04/2020

Today's Top Stories: April 9, 2020. 6.6 million new jobless claims reported today, taking total for past 3 reports up to 16.6 million unemployed with no end in sight.


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Coronavirus update:

1,502,618 infections, up from 1,447,466 yesterday.
89,915 deaths, up from 83,471 yesterday.
April 9, 2020 COVID-19 pandemic map
Relevant COVID-19 stories:

    Scary video shows how a single cough spreads coronavirus across a supermarket
    Summer Heat May Not Diminish Coronavirus Strength
    C.D.C. Releases Early Demographic Snapshot of Worst Coronavirus Cases
    A jail built on a landfill is at the center of America’s coronavirus outbreak

Economy Update:

Jobless claims up another 6.6 million. Coupled with the 10 million from the last two reports, we are up to 16.6 million new jobless claims.

State unemployment offices cannot keep up.

Nevertheless, the DJIA is up over 300 points, and near 24,000. The stock market has been remarkably resilient, given the economy is nearly shut down, 10 percent of the workforce is jobless, and unemployment benefits and the federal stimulus isn’t in full effect yet.
April 9, 2020 DJIA stock chart
Upcoming economic reports this week:

    Wednesday – FOMC meeting minutes
    Thursday – weekly jobs claims (this is a big one) & PPI
    Friday – CPI

Relevant Economy stories:

    The Fed Will Pump Another $2.3 Trillion Into The Economy. Here’s Why This Time Is Different.
    US weekly jobless claims jump by 6.6 million and we’ve now lost 10% of workforce in three weeks
    Treasury Secretary Mnuchin says US could be open for business in May

Politics:

Bernie Sanders suspended his campaign yesterday, leaving Joe Biden as the sole survivor in the Democratic nomination process.

Of course, there’s still talk about Biden not being the nominee.

But who would it be? Cuomo? No. He’s in the middle of the fight of his life in overseeing the COVID-19 crisis in his state. I don’t think he’ll be ready by the Democratic convention (thus far, we don’t even know when that will be, except prior to November 3, 2020 (presidential election day–IF the election isn’t postponed).
Relevant Politics stories:

    Bernie Sanders ends his presidential campaign
    Biden, Sanders work toward truce on big issues

Feel Good Song of the Day:

Texas in My Rearview Mirror by Mac Davis (an exemplary songwriter). Sometimes, we need to venture elsewhere to find that what we were looking for was right in front of us.
Mac Davis (not related)
Offbeat Story of the Day:

Paramedic Busted For Coughing On Store Cashier | The Smoking Gun

    APRIL 8–After declaring that social distancing rules were “getting out of hand,” a customer yesterday “forcefully” coughed on a store cashier and announced that he “goes up to people wearing masks and does the same thing to them,” according to Florida cops.

    Investigators allege that Christopher Canfora, a 49-year-old paramedic, intentionally coughed on a female employee at a tool store near his home in DeBary, a city about 25 miles north of Orlando.

    As described in a charging affidavit, Canfora approached cashier Amanda Puig around 9:10 AM and commented on tape markers placed on the ground to ensure that patrons stayed six feet apart. The 21-year-old Puig told cops that Canfora remarked, “This is getting out of hand, this is why everywhere I go I cough behind everyone with a mask.”

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