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Plus: Why Jeff Bezos Lost $8 Billion in the Last 2 Days—And Why That’s Not a Big Deal

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• Ivanka Trump Wades Into Goya Foods Row, Faces Accusation Of Ethics Breach

• Florida Sets Coronavirus Death Record, Hours After Gov. DeSantis Said State Had ‘Stabilized.’ 

MORE: Total Covid Deaths In Latin America Surpass North America For First Time

• White House Drops Plan To Deport International College Students Attending Online-Only Classes

• Supreme Court Justice Ruth Bader Ginsburg Has Been Hospitalized For Possible Infection

• Nick Cannon Fired By ViacomCBS In Wake Of Anti-Semitic Comments

Top Take-Aways

Major banks kicked off earnings season, leading the market higher, as investors rotated out of big tech stocks and remained wary about the recent surge in new coronavirus cases across the U.S. The Dow was up nearly 600 points.

The U.K. government will ban Huawei from its 5G networks—barring telecom companies from purchasing equipment made by the Chinese firm—in a sharp u-turn from its previous stance and a major diplomatic win for the U.S.

The $600 federal unemployment checks have been a critical lifeline for millions of Americans; they have also been a lightning rod for criticism. Signals from key GOP officials point to a continuation of benefits, but at a much lower rate of $300 to $400 per week.

Beyoncé and the NAACP are partnering to launch the Black-Owned Small Business Impact Fund, providing $10,000 grants to companies in select cities “to help strengthen small businesses and to ensure economic empowerment for Black businesses.”

40% of the nation’s child care centers say they'll close permanently without additional public assistance. There are more than 23 million children under the age of 5 in the U.S., and the families of more than half of them rely on some form of daycare.

As the food service industry looks to reduce its carbon footprint, Burger King will begin selling burgers sourced from cows fed lemongrass, which cause them to belch out less methane and reduce the chain’s contribution to greenhouse gas emissions.

Today's Must-Read

Small movements in stock prices can translate into big swings in net worth for the richest people on the planet, but the overall trend for Bezos is very good indeed.

Between last Friday afternoon and midday on Tuesday, Jeff Bezos’ net worth fell by $8 billion. That’s a huge sum—the combined value of the NFL’s New England Patriots ($4.1 billion) and the New York Giants ($3.9 billion).

But for Bezos, who’s worth about $181 billion, it was just a routine couple of days on the job—and a 4.4% decline in his fortune, notes Wealth staff writer Angel Au-Yeung.

As shoppers who sheltered at home during the pandemic turned to Amazon for ordering more purchases, its market cap reached a record $1.5 trillion, and Bezos’ fortune jumped $68 billion. Even with the recent slight downtick, investors aren’t worried.

Bezos is not the only billionaire to get much richer during the pandemic. Elon Musk, CEO of Tesla and SpaceX, has gone from No. 31 wealthiest in the world in mid-March to No. 9 as of Tuesday. Musk’s net worth has nearly tripled in the last four months, to $69.1 billion from $24.6 billion, largely due to a massive 320% rally in Tesla’s stock.

The only certainty with markets like this is that billions can be gained—and lost—and regained in a matter of hours.

Read the full story here.

Across Forbes

Forbes Advisor: Finding the best life insurance company can be difficult for any consumer, who has to navigate a huge range of products and pricing variables. Forbes Advisor just published its first-ever Best Life Insurance Companies rankings. Read about our data-driven evaluation and see who ranked in the top three.