The Morning Dispatch: Bad News for the Economy

Happy Friday! The next time we’ll be in your inbox, it’ll be August. Wild.

Quick Hits: Today’s Top Stories

  • The United States confirmed 67,317 new cases of COVID-19 yesterday, with 8.2 percent of the 819,270 tests reported coming back positive. An additional 1,347 deaths were attributed to the virus on Thursday, bringing the pandemic’s American death toll to 152,055.

  • The U.S. economy shrunk a record amount—an annualized rate of 32.9 percent—in the second quarter, per data released by the Commerce Department on Thursday.

  • The CARES Act’s supplemental unemployment benefits of $600 per week will expire today for millions of Americans after the Senate adjourned for the week without reaching consensus on the next stimulus bill.

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