Apple Is the First American Company to be Valued at $2 Trillion

Apple is the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion.

Apple shares have gained nearly 60% this year as the company overcame the shutdown of factories in China that produce the iPhone and the closure of its retail sales amid the coronavirus pandemic.

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Small Business Administration Gave Loans to Multi-Million Dollar Companies

The U.S. Small Business Administration (SBA) and the U.S. Treasury Department this week released the names of 4.9 million Paycheck Protection Program (PPP) loan recipient businesses and nonprofits that received $150,000 or more.

The mostly forgivable PPP loans were funded through the federal Coronavirus Aid, Relief and Economic Security (CARES) Act.

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Americans to Get Second Stimulus Check in August, Trump Says

Congress is preparing another coronavirus relief package, President Donald Trump said, which includes another direct cash payment to Americans.

“Yeah, we are … We will be doing another stimulus package. It’ll be very good, it’ll be very generous,” Trump told a Scripps reporter Monday. “I think over the next, I think it’s going to be bi-partisan, I think it’s going to be over the couple of weeks, probably.”

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Fed Says ‘Full Range of Tools’ in Play to Counter Pandemic

The Federal Reserve is promising to use its “full range of tools” to pull the country out of a recession brought on by a global pandemic, signaling that it would keep interest rates low through 2022.

In its semi-annual monetary policy report to Congress, the central bank said Friday that the COVID-19 outbreak was causing “tremendous human and economic hardship across the United States and around the world.”

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