Biden will set a goal for clean energy vehicles to account for half of U.S. sales by 2030
Biden will set a goal for clean energy vehicles to account for half of U.S. sales by 2030:
U.S. President Joe Biden plans to set the goal of achieving half of the cars sold in the U.S. to be new energy vehicles by the end of 2030. Automakers say that this goal can only be achieved if the government increases investment in charging piles and other infrastructure. According to the words of senior government officials and the White House fact sheet, Biden will announce an executive order on Thursday, aiming to realize that by 2030, pure electric, plug-in hybrid or fuel cell vehicles will account for half of all US car sales.
Fed governor: I am very optimistic about the economic outlook and may withdraw from the easing policy earlier than others predicted:
Federal Reserve Governor Christopher Waller said, “The economy has rebounded in an amazing way, and I think this trend will continue. I have high hopes for the non-agricultural employment report tomorrow and next month”. “If Friday’s data shows that non-agricultural employment increased by 1 million, and in September it increased by nearly 1 million, we will restore 85% of the jobs lost in 18 months. This is something that took 7 years before.”
The number of first-time jobless claims in the United States has fallen for the second consecutive week, in line with economists’ expectations:
The number of people applying for unemployment benefits for the first time in the United States decreased last week, showing that the labor market is gradually improving. Data released by the US Department of Labor on Thursday showed that as of the week ending July 31, the number of people claiming unemployment benefits for the first time totaled 385,000, a decrease of 14,000 from the previous week. This number is in line with economists’ expectations. The median forecast of economists surveyed by Bloomberg is 383,000.
U.S. small business job vacancies hit a record high More companies intend to raise wages:
According to data released by the National Federation of Independent Business (NFIB) on Thursday, a record percentage of small business owners in the United States said they had vacant positions unfilled in July, and more companies plan to raise wages to attract much-needed manpower. According to NFIB data, about 49% of companies had vacancies last month, an increase of 3 percentage points from June and the highest monthly value since the data were available in 1986. In addition, a record 27% of small business owners said they plan to increase their salaries in the next three months.
The US trade deficit widened to a record US$75.7 billion in June:
The US trade deficit widened to a record level in June, as domestic importers were eager to meet business investment and household needs. Data released by the US Department of Commerce on Thursday showed that the trade deficit in goods and services increased by 6.7% in June to US$75.7 billion. Economists surveyed by Bloomberg expected a median deficit of $74.2 billion. In June, imports of goods and services increased by 2.1% to 283.4 billion U.S. dollars, partly due to higher prices of imported petroleum products. Exports increased by 0.6% to 207.7 billion U.S. dollars.
The Bank of England warns that it may be necessary to tighten policy due to the expected surge in inflation:
The Bank of England said that the country’s inflation rate will reach 4% higher than expected, and policymakers believe that some “moderate tightening” is needed at the appropriate time to control price increases. Among them, Michael Saunders even voted for an early contraction of policy stimulus.
Goldman Sachs raised the target of the S&P 500 Index and is expected to rise by 7% from the current high during the year:
Goldman Sachs Group strategists raised their outlook on the S&P 500 Index. Although US stocks have reached historical highs, strong earnings growth and low interest rates have stimulated optimistic expectations for the broader market to continue to rise.
