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Would you load up an RV and hit the road to avoid flying for a summer trip?

If the answer is yes, you’re in good company. As the coronavirus crisis has battered the travel and hotel industries, many would-be summer vacationers are uneasy about flying, which means plenty of Americans will likely be hitting the road.

In fact, according to a survey conducted in early May by MMGY Global for the U.S. Travel Association, only 18% of travelers feel safe taking a domestic flight, while the same percent feel safe at a hotel or resort. Meanwhile, the majority (some 68%) feel safest traveling by personal cars, and roughly a third of travelers feel safest in parks.

Cue the RV. According to new reports, RV dealers are already seeing a big uptick in demand for the social-distance-friendly vehicles. In fact, “early feedback is there seems to be a lot of incremental demand for RVs, whether to own them or to rent them, because it allows you to vacation without being too close to your peers,” says Jefferies’ Bret Jordan.

And given the environment, that’s not too much of a surprise.

“I can certainly see where there’s a short term recovery and …

President Donald Trump is expected to hold a news conference on Friday to announce new measures against Beijing in response to its approval of a controversial national security law in Hong Kong. The Hong Kong government is worried that it will end up bearing the brunt of Trump’s retaliation.

On Wednesday, Secretary of State Mike Pompeo reported to Congress that Hong Kong—one of two Special Administrative Regions in China—could no longer be considered autonomous enough to qualify for special economic treatment from the U.S., paving the way for Washington to revoke the city’s unique privileges.

While revoking Hong Kong’s special trade status is the most obvious means of retribution, it’s not the most effective if the U.S.’s end goal is to punish Beijing. In fact, it would leave Washington’s main target largely unscathed.

“Practically, in Hong Kong-U.S. relations, any sanctions are a double-edged sword that will not only harm the interests of Hong Kong but also significantly those of the U.S.,” the Hong Kong government said in a lengthy statement Thursday.

To inflict real economic pain on Beijing, the U.S. would have to trigger what experts call the ‘nuclear option:’ cutting Hong Kong off from the U.S. …

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. How’s this for a matchup? The pessimism around China-Hong Kong tensions and U.S. jobless claims is facing off against investor euphoria over stimulus packages. So far the bulls have the upper hand.

There’s plenty of green on the screens.

Let’s see where investors are putting their cash.

Markets update

Asia

• The Asian indices are mostly higher in afternoon trade.
• The Nikkei is up more than 2% after the Japanese government approved what some are calling the “world’s biggest” coronavirus stimulus package (in GDP terms).
• Hong Kong’s Hang Seng is that lone patch of red in Asia. It was down at the start of the trading session after U.S. Secretary of State Mike Pompeo said in a Tweet Hong Kong is no longer considered fully autonomous, throwing its special trading status into question.
• The Hang Seng then fell further, down as much as 1.2%, after the legislature in Beijing approved, as expected, the new national security law that’s tailor-made for Hong Kong.

Europe

• European bourses climbed out

The European Union’s executive arm will propose a new fiscal stimulus package of as much as 750 billion euros ($823 billion) in an unprecedented push to overcome the deepest recession in living memory, according to a tweet by European Commissioner Paolo Gentiloni.

Of the total amount, 500 billion euros from the package will be distributed in the form of grants to member states, and 250 billion euros could be available in loans, according to an official, who asked not to be named, in line with policy. To fund the package, the EU would borrow up to 750 billion euros on financial markets.

Italy would get 81.8 billion euros under the proposal, Spain 77.3 billion euros, Greece 22.5 billion euros and France 39 billion euros, according to another official familiar with the details. Peripheral EU bonds rallied on the news.

Italian bonds rallied, with 10-year yields falling eight basis points to 1.47%, the lowest level in almost two months, while German securities erased gains. The euro snapped …

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