Your Daily Roundup for April 22nd

Good morning. As the COVID-19 pandemic takes a toll on the U.S. economy, our team at Future Majority is tracking the latest updates: 

The small business loan program is a mess:

The Paycheck Protection Program has run out of funds, and small businesses around the country are struggling. Lawmakers in Washington and the White House reached a deal to replenish the fund with $484 billion, but the first $349 ran out in just a few days.

Reports showed that a significant amount of those funds went to publicly traded companies with thousands of employees, not the small businesses that the PPP was intended for.

Oil prices went up and the stock market responded in lockstep:

Oil prices jumped over 10% today after record drops earlier this week. The stock market rebounded in similar fashion, despite the bleak economic outlook otherwise.

Despite record unemployment numbers, Trump’s approval of his handling of the economy remains high:

A new The Hill/HarrisX poll shows that a majority of Americans approve of his job on the nation’s economy:

• Approve: 56%
• Disapprove: 44%

Among women surveyed, his approval is a bit lower:

• Approve: 50%
• Disapprove: 50%

And among young voters (18-34), his approval dips below 50%:

• Approve: 49%
• Disapprove: 51%