5.8.2020

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Need to Know
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33 Million Unemployed
Editor's note: We typically run three top stories, but have focused Fridays on the ongoing COVID-19 crisis. Below is our summary of the key events.

Nearly 3.2 million Americans made initial unemployment claims last week, bringing the total number of newly unemployed workers to more than 33 million since the beginning of the coronavirus pandemic. While the weekly figures are steadily declining since peaking near 6.9 million at the end of March, the cumulative job losses are roughly equal to 10% of the total US population.

The stock market shrugged off the news, rising on anticipation of more states moving to reopen their economies. The Dow Jones Industrial Average was up 0.9% (211 points), with the S&P 500 (1.2%) and the Nasdaq (1.4%) following suit. 

As states begin to reopen their economies, it remains to be seen how quickly businesses return to something close to normalcy. Three-quarters of newly unemployed workers surveyed believe they will eventually be rehired by their previous employers.

Lawmakers continue to haggle over a potential fourth stimulus bill, focused primarily on aiding states and municipalities. Democrats are reportedly eyeing a package whose scope would equal the Depression-era New Deal. Congress has already appropriated more than $3T in support.

Separately, one of President Trump's personal valets reportedly tested positive for the virus. The driver is the second person who works at the White House to contract the disease; an aide to Vice President Mike Pence tested positive in March. Finally, military officials circulated updated guidance banning anyone hospitalized with COVID-19 symptoms from enlisting.

Want to explore more? Check out our coronavirus resource page, curated by a team of PhD experts.
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Mask Up
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Some words of advice: Only leave your home if it's essential. Wash your hands regularly and thoroughly. Wear a mask whenever you do leave home.

Maskd Health can't keep you indoors or teach you how to wash your hands properly, but they can absolutely help you stay safe outside, with their 100% antimicrobial face masks. These washable masks are designed to achieve close facial fit and efficient filtration of airborne particles. They help you protect yourself and others, at a fair price-point: as low as $2 per mask, with efficient one- to two-day shipping to help you stay safer, faster.

Ten percent of proceeds go to organizations helping stop the spread of the coronavirus, and Maskd Health donates one mask to first responders for each order. Stay safe. Buy today at Maskd Health.
 
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In the Know
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Sports, Entertainment, & Culture
> The 2020 NFL season kicks off Sept. 10 as Houston Texans visit Super Bowl champs Kansas City Chiefs; see full schedule and season predictions (More)
> ViacomCBS to launch a streaming service in international markets as part of CBS All Access rebranding effort (More) | Alamo Drafthouse, boutique theater chain with 41 locations, will launch streaming service with films curated by the company’s employees (More)
> “Capital One's The Match: Champions for Charity” golf match pitting Tiger Woods and Peyton Manning versus Phil Mickelson and Tom Brady is set for May 24 (TBS/TNT, 3pm ET) and will raise $10M for COVID-19 relief (More)

Calling all parents of high-achievers: Civics Unplugged, a community committed to empowering future American leaders, is now accepting applications for their summer program. Have (or know) a civic-minded teen interested in personal growth and community building? Nominate them for CU Summer Camp, a completely virtual and free 10-week program to help them find their civic purpose. Check out the applications today!
Science & Technology
> First wide-scale study of the genetic history of cultures from the Andes Mountains reveals mountain cultures became genetically distinct from coastal communities by 9,000 years ago (More)
> Alphabet's Sidewalk drops its highly anticipated smart city project at Toronto's Quayside riverfront neighborhood, citing economic uncertainty (More)
> The warty comb jellyfish, an invasive species threatening European fisheries, found to eat its young when food is scarce; cannibalistic tendency may explain the species' persistent presence (More)
Business & Markets
>  Luxury retail giant Neiman Marcus files for Chapter 11 bankruptcy, joins growing list of retailers facing bankruptcy amid pandemic (More)
> Small Business Administration’s federal disaster loan maximum now capped at $150K, down from $2M; will only accept applications from agricultural businesses going forward (More)
> Rideshare giant Uber whiffs on earnings, but lays out $1B cost-cutting plan to reach profitability; shares up 6% in after-hours trading (More)
Politics & World Affairs
> Two men charged with murder in the Georgia killing of Ahmaud Arbery; charges come days after anonymous video of deadly incident surfaces (More) | Protests break out in Indianapolis after police kill two men and a pregnant pedestrian in three separate incidents hours apart (More)
> Tara Reade, who has accused Joe Biden of sexual assault in 1993, talks with Megyn Kelly; yet-to-be-aired interview is Reade's first appearance since Biden denied allegations (More)
> Justice Department to drop prosecution against former national security adviser Michael Flynn, alleging FBI misconduct; follows revelation of internal FBI deliberations (More) | Supreme Court unanimously overturns convictions in Bridgegate scandal, in which former Gov. Chris Christie (R) aides orchestrated lane closures on a major bridge as political retaliation (More)
Weekend Reads
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The Disappointing Truth About Antibody Tests
The Verge | Elizabeth Lopatto. The tests are meant to identify people who may have some degree of immunity to the coronavirus, but a recent preliminary study found just three of 14 available tests were reliable. (Read)
Work From Home Is Here to Stay
The Atlantic | Olga Khazan. Work-from-home culture, foisted upon much of society, is quickly becoming the new normal. The longer it persists, the more employers will recognize its advantages. (Read, $$)
The Hidden Link Between Mental Disorders
Nature | Michael Marshall. Scientists now know that many seemingly distinct psychiatric disorders, such as schizophrenia and autism, share the same underlying gene variations. Understanding this biology may revolutionize the field of mental health. (Read)
About That Venezuela Raid
Bellingcat | Giancarlo Fiorella. How a former Green Beret ended up leading a hopeless and botched mission to overthrow Venezuela's government. (Read)
 
 
Protect yourself, protect others.
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For every order at Maskd Health through this link, they'll donate a face mask to the first responders who are keeping us safe every day. What's more, 10% of all proceeds go to organizations that are helping stop the spread of the coronavirus.

With masks starting as low as $2 each, you can get peace-of-mind for a fair price. Check out Maskd Health today to protect both yourself and others.
 
Please support our sponsors - they help us keep the lights on!
Etcetera
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Inside the single largest coronavirus outbreak in America.
Seventy-five years ago, the world celebrated the surrender of Nazi Germany (in photos).
How a $60K telegram helped abolish slavery.

From our partners: This bundle of awesome apps is perfect during social distancing. Learn a language, protect your privacy online, and read a book in just 12 minutes. Now 76% off. #Ad
Eleven cognitive biases that influence how you think.
Exploring the best quarantine memes
Make your own hip-hop remix using Library of Congress audio.
This Twitter thread captures the convoluted scramble for protective gear.
Which Supreme Court justice flushed a toilet during a hearing?
Clickbait: It's been a rough spring. Here's a bear in a bathtub.
Historybook: Poet Phillis Wheatley born (1753); President Harry Truman born (1884); Boxing legend Sonny Liston born (1932); V-E (Victory in Europe) Day after Germany’s surrender (1945); Smallpox is eradicated (1980).
You made it. Have a great weekend (especially all the moms out there).
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"A pessimist is one who makes difficulties of his opportunities and an optimist is one who makes opportunities of his difficulties."
- Harry Truman
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