Good morning from the WSJ Washington bureau.

Trump's Day: President Trump participates in the swearing in of John Ratcliffe as his new director of national intelligence, meets with Secretary of State Mike Pompeo, and delivers remarks on the protecting seniors with diabetes.

Stocks: Global stocks rose on optimism about economies reopening and the potential development of a coronavirus vaccine. The New York Stock Exchange is set to resume floor trading today.

Hong Kong: China’s national-security clampdown is sparking a rethink in Washington that could include putting sanctions on Chinese officials and stripping Hong Kong of the special trade status it enjoys with the U.S.

Declining coronavirus cases and slowing death rates are fueling hopes that the worst of the pandemic is over—despite concerns about possible new waves of infection. The U.S. reported 600 deaths Sunday, the fewest since mid-April, data from Johns Hopkins University showed. Even so, the U.S. death toll remains poised to surpass 100,000 this week.

• The White House on Sunday imposed restrictions on travel from Brazil, a hot spot of the pandemic in the developing world.
• ▶️ Video: Pharmaceutical giant Merck has made deals for vaccines.
• Novavax started the first human study of its experimental coronavirus vaccine, making it one of at least 10 now being tested on people globally.

Lawmakers are looking to expand a wage subsidy to keep workers on payrolls and help businesses stay afloat amid the coronavirus pandemic, as the unemployment rises and the first wave of federal economic relief nears expiration, reports Richard Rubin.

• Job losses were sudden and swift this spring. At first, workers and employers thought they would be temporary. For many, that is starting to look like wishful thinking.

• Recovering air travel, hotel bookings and mortgage applications are among the early signs the U.S. economy is slowly creeping back to life.

• With interest rates falling to the lowest level on record, this should be a banner time for households in search of a new mortgage. It isn’t.

• As the U.S. moves to audit Chinese companies, investors worry proposed legislation will further inflame tensions between Beijing and Washington.

✔️ Coronavirus Checklist: When to Reopen | How to Navigate the Crisis | What We Know | You Ask, We Answer

In a live Q&A, Sen. Tom Cotton says China’s latest move to impose new national-security laws on Hong Kong could result in the territory’s special status being revoked.

President Trump and Joe Biden approached Memorial Day differently in public appearances, Andrew Restuccia and Sabrina Siddiqui report, with Mr. Trump visiting Arlington National Cemetery and delivering remarks at Fort McHenry in Baltimore before a crowd of 200 people, who sat six feet apart from each other. Mr. Biden's unannounced visit to Delaware Memorial Bridge’s Veterans Memorial Park was less than 10 minutes. Mr. Trump didn't wear a mask; Mr. Biden did.

President Trump threatened to move the Republican National Convention out of North Carolina if the state’s governor can’t guarantee it will take place at full capacity, reports Andrew Restuccia.

Personal ties to Joe Biden could be an advantage in the race to be his potential running mate, report Tarini Parti and Ken Thomas. “If you know Joe Biden, you know that what’s most important is the simpatico,” said Randi Weingarten, a member of the Democratic National Committee.

A federal judge has paved the way for hundreds of thousands of Floridians to register to vote, declaring unconstitutional parts of a state law that would require people with felony convictions to pay off financial obligations before regaining their right to vote, reports Arian Campo-Flores.

Federal policy makers are pushing to spend billions of dollars to close gaps in America’s high-speed internet network.There is one big obstacle: Government officials say they don’t have a clear picture of where service gaps exist, meaning parts of the country will be left out when it is time to distribute the funds,  reports Ryan Tracy. 

• The FCC acknowledges its estimate of how many Americans have access to high-speed internet services is based on flawed data from internet-service providers.
• If one of your neighbors has a broadband connection, the FCC might count your house as having broadband, too—even if the local internet-service provider can’t reach you.

Israeli Prime Minister Benjamin Netanyahu maintained a fiery public defense that risked deepening divisions in Israel’s fractured politics a day after he appeared in court on corruption charges, report Felicia Schwartz and Dov Lieber.

Richard Grenell, who soon will step down as Mr. Trump’s acting intelligence chief, confirmed he also would relinquish his post as U.S. ambassador to Germany, reports Warren P. Strobel.

• The coronavirus is creating a polarized election landscape. (Axios)
• Recovery from the pandemic will remain chaotic. (Vox)
• One prominent Democratic economist is predicting Americans will be seeing the best economic data in the history of the country around election time as the country bounces back from the coronavirus crisis. (Politico)

This newsletter is a production of the WSJ Washington bureau. Our newsletter editors are Kate Milani, Troy McCullough, Daniel Nasaw, Toula Vlahou and James Graff. Send feedback to capitaljournal@wsj.com. You can follow politics coverage on our Politics page and at @wsjpolitics on Twitter.