Your Weekend Reading: Pessimism Settles In

(Bloomberg) --

The wave of economic pessimism got bigger. The latest U.S. jobs report was a huge disappointment and put more pressure on the Federal Reserve to cut interest rates, maybe even as soon as this summer. Bond yields tumbled. The outlook for the trade war is baffling companies. President Donald Trump reversed course Friday evening, reaching a deal with Mexico on trade and immigration and calling off planned tariffs. 

What you’ll want to read this weekend

Big tech has been preparing for this moment for a while. Companies including Google and Facebook are lawyered up and ready to make the case they shouldn't be broken up. 

Huawei is fighting back. Its 10,000 developers are working across shifts, one indication of the company’s drive to beat Trump’s blacklist.

A new surveillance balloon just completed a test over four western states. They're meant for miners, railways and pipelines. The worry is they also spell the end of privacy.

Forget the humdrum hype around scooters, electric bikes and ridesharing. Here are six flying robo-taxis.

A good tale for parched times: How to tow an iceberg with enough water for four million people.

What you’ll need to know next week

• Central bank chiefs meet at the G20 in Japan over the weekend.
• The race to succeed Theresa May kicks off officially on Monday.
• Elon Musk hosts Tesla's annual shareholder meeting Tuesday. 
• The world's lowest interest rate could go even lower.
• New York legislators wrestle with new real estate regulations.

What you’ll want to see from Bloomberg Photos

It's been 50 years since Woodstock, Stonewall and man walking on the moon. An era ended. A new one began. 

To contact the editor responsible for this story: Josh Petri at jpetri4@bloomberg.net

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