6.8.2020

Good morning. It's Monday, June 8, and someone is $1M richer after finding Forrest Fenn's treasure. Have feedback? Let us know at [email protected].

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NEED TO KNOW

A Weekend of Protests

Waves of protestors took to the streets across the US over the weekend, joining the largest demonstrations against police brutality since the death of George Floyd sparked outrage two weeks ago. With marches held in cities both large and small, estimates of turnout weren't readily available, though the number likely stretched into the hundreds of thousands. Despite the crowds, the events appeared overwhelmingly peaceful. Demonstrations were also held in major cities around the world, including Paris, London, Berlin, Sydney, and elsewhere.

In Washington, DC, tens of thousands protested in front of the White House. No major incidents between police and protesters were reported. Separately, a feud between DC Mayor Muriel Bowser and President Trump escalated, with Trump calling Bowser "incompetent" and Bowser renaming the area just north of the White House "Black Lives Matter Plaza." A street mural with the phrase can be seen via satellite.

In Seattle, police used flash-bang devices and pepper spray after some sort of improvised explosive device was reportedly thrown from a small group of protestors. In Buffalo, New York, two officers shown on video pushing an elderly protester who interrupted a police line, causing the man to sustain a severe head injury, were charged with second-degree assault and suspended without pay.

In Minneapolis, Mayor Jacob Frey was heckled by protestors after refusing to commit to abolishing the city's police department. Members from the city council, however, joined activists and committed to "ending" the police department—though it's unclear what that may look like. Defunding police departments has become a rallying cry; here's a look at what the proposal may actually mean.

Finally, hundreds attended a memorial service yesterday for Floyd outside Fayetteville, North Carolina, where Floyd was born. A public service will be held in Houston today, where Floyd was raised and had family, followed by a private service Tuesday.

See photos of the weekend's marches here.

Surprise Jobs Report

The US economy added nearly 2.5 million jobs in May, according to a surprising Friday report that reflects workers returning to jobs as states begin to lift stay-at-home restrictions. The report pegged current unemployment at 13.3%, down from 14.7% in April, a shocking figure given many analysts expected near 20%.

A note appended to the report (read here, note at bottom) indicated a misclassification, where furloughed workers were counted as employed, made the figure 3% lower—it should've been near 16.3%. Still, the numbers represent the biggest Wall Street projection whiff ($$, Bloomberg) on jobs reports ever and provide hope that the economy may recover quicker than previously thought.

Stocks rose swiftly on the morning news. The Dow jumped 829 points (3.1%), followed by the S&P 500 (2.6%), and the Nasdaq (2.0%). The Nasdaq became the first of the three major indices to return to an all-time high after cratering in mid-March due to the coronavirus pandemic.

Meanwhile, the number of reported coronavirus cases in the US rose to 1.94 million, with 110,514 deaths, as of this morning. Deaths rose 2.1% since Friday morning; see the moving three-day average here.

Cristobal Arrives in the US

Tropical Storm Cristobal made landfall along the US Gulf Coast yesterday, bringing sustained 50 mph winds, 3 to 6 inches of rain per hour, and up to 6 feet of storm surge. The system battered Mexico's Yucatán Peninsula last week before turning northward, picking up steam as it moved over the Gulf of Mexico.

It is the third named storm—meaning sustained surface winds of at least 39 mph—of what is expected to be an active Atlantic hurricane season. It's also the second earliest to hit Louisiana since record-keeping began in 1851, beating out storms that landed June 13 in both 1912 and 1956. The system is expected to pass over Baton Rouge and into Arkansas, eventually bringing rain all the way to Chicago by the end of the week (see map).

See photos as the storm made landfall here.

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IN THE KNOW

Sports, Entertainment, & Culture

> New York Times editorial page director James Bennet resigns over criticism of decision to publish op-ed by Sen. Tom Cotton (R-AR) calling for federal troops to quell protests (More) | “Harry Potter” author JK Rowling faces widespread backlash for transphobic tweets (More)

> Conor McGregor, mixed martial artist and UFC star, announces his retirement from fighting; McGregor has said he would retire twice previously (More)

> NFL commissioner Roger Goodell admits the league was wrong in how it handled player protests, says "black lives matter" in video statement (More) | Michael Jordan and Nike-owned Jordan Brand donate $100M to organizations dedicated to racial equality and social justice (More)

Science & Technology

> Competing bacteria will commit mass suicide, releasing large quantities of toxins that kill other strains, to protect colonies (More)

> Great white sharks spend more time foraging for food along the seabed than previously thought, according to first detailed study of sharks' diets off the Australian coast (More)

> New study links deadly effects of sleep deprivation with changes to the gut microbiome in flies; antioxidants found to address the buildup of cell-damaging molecules in small intestines (More)

Business & Markets

> Alexis Ohanian, Reddit cofounder and husband of tennis star Serena Williams, resigns from Reddit board, urges board members to replace him with a black director (More)

> JCPenney shares surge 55% after sources say private equity firm in discussions to potentially purchase company out of bankruptcy assuming creditor negotiations fail (More)

> The Organization of Petroleum Exporting Countries and allies agree to continue oil production cut another month amid continued decreased demand (More) | Tesla Model 3 becomes bestselling car in state of California in Q1; marks the first time an electric car has topped the state’s charts (More)

Politics & World Affairs

> Active-duty Air Force sergeant suspected in California police ambush that left one officer dead and two injured; suspect was taken into custody, no motive given as of this morning (More)

> Joe Biden formally clinches the Democratic presidential nomination; results from June 2 primaries were delayed due to high volume of mail-in ballots (More) | Colin Powell, secretary of state under President George W. Bush, endorses Biden (More)

> New York City, once the epicenter of the US coronavirus outbreak, begins reopening; up to 400,000 set to return to work today (More) | Brazil, with the second-leading number of cases worldwide, stops reporting total coronavirus figures (More)

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ETCETERA

Check out aerial views of the weekend's protests. ($$, NYT)

The Marine Corps bans public displays of the Confederate flag.

The safest countries in the world for COVID-19.

From our partners: Is your company working remotely? This product empowers businesses to work productively—from anywhere—with Apple devices. Create your free account here. #Ad

Read a previously unpublished story from Ernest Hemingway. ($$, New Yorker)

Watch the Washington Monument get struck by lightning.

Among discarded wipes and masks, the fatberg returns.

The 10 most loved sandwiches in America.

Banksy reveals tribute to George Floyd.

Clickbait: Art dealer Forrest Fenn's buried treasure finally found.

Historybook: Muhammad, founder of Islam, dies in Medina, Saudi Arabia (632); Architect Frank Lloyd Wright born (1867); Former first lady Barbara Bush born (1925); James Earl Ray arrested in London for the assassination of Martin Luther King Jr. (1968); HBD Kanye West (1977).

"The longer I live, the more beautiful life becomes."

- Frank Lloyd Wright

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