People gather at the entrance for the New York State Department of Labor offices in Brooklyn on March 20, 2020. The Federal Reserve estimates that 47 million people could lose their jobs before the COVID-19 crisis ends.

Andrew Kelly | REUTERS

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7:50 am: Disney shares jump premarket after Disney+ tops 50 million subscribers

Shares of Disney rose more than 5% in premarket trading after the media company said that Disney+, its new video streaming service, now has more than 50 million subscribers. That’s almost twice as many as Disney reported on February 4, when it said in its first quarter earnings report that Disney+ reached 26.5 million subscribers during the quarter. The jump has been driven by global stay-at-home orders, as well as the introduction of the service in India where 8 million people have signed up. While Disney is benefiting from more people being home, the stock is down about 30% this year as the company has been forced to close its parks. —Fitzgerald

7:48 am: Jobless claims expected to jump by 5 million

7:42 am: Dow up nearly 30% from March low

The recent rally in stocks

While not the first topic you think of in a crisis, spending the time to generate a compelling name can be not only useful, but calming.


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New businesses are born out of crisis. Existing businesses pivot and reposition. Other businesses will offer new products and services. Ideas can be overwhelming. We are in the idea phase and that comes with stress.

What is helpful is a clear first step. That is where naming comes in. While not the first topic you think of in a crisis, spending the time to generate a compelling name can be not only useful, but calming.

Join us on April 16 at 12PM EST as our expert Brad Flowers, co-founder of Bullhorn an agency that builds confident brands with language and design, provides best practices on naming your business. 

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The Strategic National Stockpile is nearly out of the N95 respirators, surgical masks, face, shields, gowns and other medical supplies desperately needed to protect front-line medical workers treating coronavirus patients.

The Department of Health and Human Services told the Associated Press Wednesday that the federal stockpile was in the process of deploying all remaining personal protective equipment in its inventory.

The HHS statement confirms federal documents released Wednesday by the House Oversight and Reform Committee showing that about 90% of the personal protective equipment in the stockpile has been distributed to state and local governments.

HHS spokeswoman Katie McKeogh said the remaining 10% will be kept in reserve to support federal response efforts.

House Oversight Chairwoman Carolyn B. Maloney, D-N.Y., said in a statement that the Trump administration is leaving states to scour the open market for scarce supplies, often competing with each other and federal agencies in a chaotic bidding war that drives up prices.

“The President failed to bring in FEMA (the Federal Emergency Management Agency) early on, failed to name a national commander for this crisis, and failed to fully utilize the authorities Congress gave him under the Defense Production Act to procure and manage the …

This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here.

Good morning, Bull Sheeters. There’s a lot on today’s calendar, on both sides of the Atlantic.

Here’s what investors are focusing on as we head into a long weekend.

Markets update

In Asia, the markets are flat. The indices in Hong Kong and Shanghai are up slightly, while Japan’s Nikkei is trading a tick down. The coronavirus picture in the region is mixed. Singapore, held up as a model last month for its success in keeping infections at bay, is reporting a bump in cases now. China, meanwhile, reports just 63 new infections.

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On to Europe, where the major bourses all opened in the green. But storm clouds are on the horizon. ECB chief Christine Lagarde this morning warned in an op-ed that for every month of lockdown European economies risk a 2-3% decline of GDP. Therefore, she recommends a kind of modified debt forgiveness scheme in which creditors get their money in a more gradual fashion.

The EU’s inability to reach an agreement on a coordinated funding …