The Rundown: Pandemic Woes Worry Wall Street

Stocks plunged yesterday amid worries about surges of coronavirus cases in parts of the U.S., denting recent optimism that the economy could recover quickly from the virus-caused lockdowns that had led to a Wall Street comeback. The Dow Jones Industrial average closed down 1,861.82 points, or 6.9 percent, with another factor being the Federal Reserve warning Wednesday that there'll be a long road to economic recovery and it would keep interest rates low for the foreseeable future. Meanwhile, the Labor Department reported that some 1.5 million people applied for unemployment benefits for the first time last week, the 10th straight weekly decline in new applications, but still in historically high territory.

Final Phase of Testing for Some Vaccines Starting Next Month: The final phase of testing for some proposed coronavirus vaccines will begin next month. U.S.-based Moderna said the vaccine it's developing with the National Institutes of Health will be tested in 30,000 people in the U.S. A potential vaccine from Sinovac Biotech in China will start being tested in Brazil, since there is currently so few cases of the coronavirus in China. The NIH also expects to help several other potential vaccines move into the final stage of testing this summer. Dr. John Mascole, who directs the NIH's vaccine research center, said Wednesday that if all goes well, quote, "there will potential to get answers" on which vaccines work by the end of the year.

U.S. Coronavirus Stats: There have been more than 113,800 deaths in the U.S. as of early this morning, according to Johns Hopkins University's count, and more than 2,023,300 confirmed cases.

➤TRUMP SAYS FINALIZING EXECUTIVE ORDER ON POLICE REFORM: Even as congressional lawmakers from both parties are working on police reform proposals in the wake of the protests over George Floyd's death, President Trump said Thursday that he's finalizing an executive order that will, quote, "encourage police departments nationwide to meet the most current professional standards for the use of force, including tactics for deescalation." Trump, who was speaking at a roundtable with law enforcement in Dallas, said the order will encourage police to use, quote, "force, but force with compassion." But Trump also defended police, saying, "you always have a bad apple no matter where you go," but "there are not too many in the police department."

Police Want to Return to Precinct in Seattle 'Autonomous Zone': Seattle police want to return and go back to work in a precinct they left empty and boarded up when protesters began occupying the area around it. The demonstrators continue to hold an area of about six blocks and have dubbed it the "Capitol Hill Autonomous Zone." President Trump tweeted yesterday to Mayor Jenny Durkan and Washington Governor Jay Inslee about the situation, saying, "Take back your city NOW. If you don't do it, I will." But Durkan said the city won't allow federal troops to move out the protesters, saying it would be "unwelcome" and "illegal," and Inslee said, "What we will not allow are threats of military violence against Washingtonians coming from the White House." Both said the protests have been largely peaceful. Meanwhile, Police Chief Carmen Best said in a video addressed to members of the department, "You should know, leaving the precinct was not my decision."

Louisville Bans 'No-Knock' Warrants After Breonna Taylor's Death: Louisville, Kentucky's Metro Council voted unanimously yesterday (June 11th) to ban the use of "no-knock" warrants, taking action after protests and calls for reform following the March 13th death of Breonna Taylor. The 26-year-old, who was studying to be a nurse, was shot and killed by officers executing a no-knock warrant in a drug investigation who burst into her home while she was in bed with her boyfriend. No drugs were found. The ordinance is being named after Taylor.

L-A Times (6/12/2020)

➤SUSPECT IN SHOOTING OF CALIFORNIA DEPUTY KILLED AFTER SHOOTOUTS WITH POLICE: A 26-year-old suspect in the ambush shooting of a San Luis Obispo County, California, sheriff's deputy early Wednesday was shot and killed in Paso Robles Thursday after shootouts with police. Three officers were wounded. Paso Robles police got a report of shots being fired Wednesday night and saw a man who appeared to be Mason James Lira, but he escaped into an apartment complex. Officers surrounded it, but he was able to escape through a riverbed. He shot at police at one point before retreating. Law enforcement surrounded the area overnight and planned a search, but Lira emerged from hiding around 2 p.m. and again fired at them. He came out once more two hours later, and was shot after climbing up an an embankment and trying to run to a vineyard. Paso Robles Police Chief Ty Lewis said Lira had clearly been planning attacks on law enforcement, possibly for days. Lira's father, Jose Lira, said his son had schizophrenia, Asperger’s syndrome and attention deficit hyperactivity disorder and had been in and out of jail and treatment centers. Jose Lira said his son didn't take his medication, and often though he was a special agent or soldier.

Deputy Nicholas Dreyfus, who was shot in the head in Wednesday's ambush attack, remains hospitalized in guarded condition. It's also believed Lira killed a 58-year-old transient.

➤SEAWORLD ORLANDO, BUSCH GARDENS TAMPA BAY REOPEN: Two more theme parks in Florida reopened from their coronavirus shutdowns yesterday, with the return of SeaWorld Orlando and Busch Gardens Tampa Bay. Both now require reservations in order to limit capacity and wearing face masks, and everyone will have their temperature screened at the entrance to the parks. In order to do extra cleaning, SeaWorld Orlando will be closed on Tuesdays and Thursdays, and Bush Gardens on Tuesdays and Wednesdays. Universal Orlando Resort reopened last week and Walt Disney World's theme parks will be back next month.

➤REPORT: FOX NEWS HOSTS SEAN HANNITY AND AINSLEY EARHARDT IN A RELATIONSHIP: Fox News hosts Sean Hannity and Ainsley Earhardt have been quietly seeing each other for some time, according to a Vanity Fair report.

Hannity hosts his own prime time show and Earhardt is one of the co-hosts of the morning show, Fox & Friends. Both got divorced in the past year, but it only recently became known that Hannity and his ex-wife were no longer together, with People saying they were in fact separated for years before divorcing, and that Hannity and Earhardt have been dating for years.

The report cites a source as saying Earhardt is taping her remote Fox appearances amid the pandemic from a studio in Hannity's basement. Page Six said she's been renting a home near his during this time. Neither is confirming anything, and Earhardt said, "I am not dating anyone."

➤PGA TOUR RETURNS WITH TEXAS TOURNAMENT: The PGA Tour returned from its coronavirus shutdown Thursday with the Charles Schwab Challenge at Colonial Golf Course in Fort Worth, Texas, played without any fans. The first round ended with a first-place tie at 7-under 63 between Britain's Justin Rose and American Harold Varner III, and included a hole-in-one on the 13th hole by Sung Kang of South Korea. A moment of silence was held at 8:46 a.m. in honor of George Floyd and to support efforts to end racial and social injustice. It reflected the eight minutes and 46 seconds that a Minneapolis police officer kneeled on Floyd's neck.

This is a time of self-reflection for all – the NFL is no exception. We stand with the black community because Black Lives Matter. pic.twitter.com/RtIdcEhj5w

— NFL (@NFL) June 4, 2020

➤NFL TO SPEND $250 MILLION ON SOCIAL JUSTICE INITIATIVES: The NFL announced Thursday that it will spend $250 million over 10 years on social justice initiatives, targeting what it called "systemic racism" and supporting, quote, "the battle against the ongoing and historic injustices faced by African Americans." The NFL has raised $44 million in donations through its Inspire Change program, and said it will provide the other $206 million. The league said it would work with NFL players to support programs on criminal justice reform, police reform, and economic and educational advancement.

➤NHL TRAINING CAMPS TO OPEN JULY 10TH IF ALL APPROVED: The NHL and the players' union have agreed to have training camps open on July 10th if everything else is approved. The league and union have already approved a 24-team playoff format to come back from their coronavirus shutdown, but they still need to come to agreement on testing for the virus and health and safety protocols, as well as potential host cities for games. Training camps are expected to last two weeks. Players have already been allowed to resume small-group, voluntary workouts, and teams can open their training facilities on Monday.

➤NCAA FINALIZES PLAN FOR EXTENDED COLLEGE FOOTBALL PRESEASON: The NCAA's football oversight committee finalized a plan Thursday for an extended preseason that would include an additional two weeks for teams to hold walk-throughs. A plan was needed for extra preparation time since spring practice and summer activities like weight training and film study have been canceled by most teams because of the coronavirus pandemic.