MARKETWATCH Top News

• The Moneyist: My children, aged 10 and 15, each received $1,200 stimulus checks — will the IRS penalize us if we keep them?
  ‘My wife is on permanent disability and she receives a Social Security payment monthly for them. Were we supposed to get this money?’
• In One Chart: There’s only one generation in U.S. history that’s considered to be more unlucky than the ‘Lost Generation’
  It’s hard out there for a millennial. In fact, the Washington Post, citing a series of economic haymakers and the struggles that come with them, calls the group born between 1981 and 1996 “the unluckiest generation in U.S. history.”
• The Tell: Why the stock market is due for ‘consolidation’ as Trump takes aim at China
  After a sharp run-up for U.S. stocks, rising tensions between Washington and Beijing could spark a round of near-term consolidation that could prove to be an entry point for investors, a prominent Wall Street bull said Friday.
• With veto, Trump backs DeVos in battle over relief for scammed student-loan borrowers
  The veto is the latest development in a years-long battle over the borrower defense rule
• The extra $600 Americans receive in weekly unemployment benefits ends in July — how that could cost the U.S. more jobs
  For every dollar spent on unemployment insurance, there’s a multiplier effect leading to a 1.64 increase in GDP, research shows.
• Be prepared to wash your own hair and pay a COVID-19 fee. Your trip to the hair salon won’t be the same after the lockdown
  Getting your hair done will be a lonelier, quieter experience for the time being.
• The Moneyist: ‘My daughter’s bank said she received three additional $1,200 stimulus payments.’ How does she return them?
  ‘I thought I’d heard all of the bizarre stories about stimulus checks, but your letter proved me wrong.’
• The Margin: Don’t toss that junk mail in the recycling bin just yet — it might contain your stimulus check in the form of a prepaid debit card
  The EIP Cards come in plain white envelopes, which some people have thrown away by mistake
• : Naomi Osaka overtakes Serena Williams as the highest paid female athlete in the world
  Roger Federer is the highest paid athlete in the world for the first time, with over $106 million in earnings this year, according to Forbes’s annual list.
• The Margin: SpaceX and NASA hope weather permits Saturday launch — watch it live at 3:22 p.m. Eastern time
  As was the case Wednesday, when the highly anticipated launch from the Kennedy Space Center of a SpaceX rocket in cooperation with NASA was scrubbed, the weather forecast for Saturday on central Florida’s Atlantic coast makes the rescheduled launch a 50-50 proposition.