Happy Monday! We hope you all had a great weekend! Today we read about the increased demand for rescue loans, what the stock market is doing today and that Apple plans to make 1 million masks a week for medical workers. See these articles and others below.
Bank of America said Monday that it’s seen fierce demand for emergency rescue loans with current applications already accounting for nearly 10% of the entire amount allocated by Congress. The bank was the first major lender to set up and launch its portal for the Paycheck Protection Program though it was quickly inundated with requests
Stocks jumped on Monday, rebounding from sharp losses in the previous week, as the number of new coronavirus cases in the U.S. appeared to slow down.
Treasury yields climbed on Monday as the easing death toll in some of the world’s coronavirus hot spots over the weekend fueled optimism that the crisis in the U.S. will slow down soon.
Apple is designing and producing face shields for medical workers, Apple CEO Tim Cook said in a video on Sunday.
The company is aiming to produce 1 million face shields per week.
A generation of risk-averse supersavers could emerge from the fallout of the coronavirus crisis and potentially reshape the economy, experts have said.