While Facebook and Google have canceled their annual developer conferences, Apple feels the show must go on albeit in a different format. The tech giant's Worldwide Developers Conference will be hosted online today for the first time since it began more than three decades ago. The biggest announcement at the event is likely to be a fundamental shift from Intel-based processors to ARM-based chipsets that will be designed in-house for Mac desktops and laptops.(SA)

US shale companies could be forced to write down at least $300bn of their assets in the second quarter, as operators begin to account for the oil-price collapse on their balance sheets, according to a new study.  The huge impairments — about half the net value of the companies’ property, plant and equipment — would increase the sector’s leverage from 40 per cent to 54 per cent, triggering insolvencies and restructuring, says the study by Deloitte.  (FT)

After "temporarily suspending" imports from U.S. poultry producer Tyson Foods, China ordered a PepsiCo factory to close on Sunday as authorities clamp down on the food industry amid a new coronavirus cluster in Beijing. Two of the eight confirmed COVID-19 cases at the plant were from workers that had made purchases at the Market, where the latest outbreak in the city emerged. The marketplace, which supplies more than 70% of Beijing's fresh produce, has been sealed off, while dozens of communities and schools have been forced to close. (CNBC)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.