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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 12, 2021
Page
11
The University of Michigan preliminary sentiment index rose to 86.4 in June from 82.9 in May, beating economists’ 84.2 median. Inflation expectations eased but remain a concern as higher home prices and durable goods purchases push consumer optimism amid easing travel and health concerns.
A federal judge in Milwaukee halted the Biden backed loan forgiveness program for socially disadvantaged farmers citing a lawsuit that claims the plan discriminates against white farmers. The order suspends payments up to 120 percent of loan balances for Black Native American Hispanic Asian American and Pacific Islander producers.
The S&P 500 rose 0.19 percent to 4,247.44 while the Dow edged up 0.04 percent to 34,479.6 and the Nasdaq climbed 0.35 percent to 14,069.42. Nvidia gained 2.7 percent and Charles Schwab rose 1.3 percent, but Vertex fell 10.3 percent after stopping a liver-targeted treatment program.
After a 12 year push to build Keystone XL ends with sponsors TC Energy and Alberta declaring the line terminated. Biden revoked the border crossing permit in January and environmentalists pivot to other projects including Enbridge Line 3 while Canadian crude exports to the United States rise led by Alberta oil sands. Bill McKibben says the defeat could fuel protests against Line 3 and Dakota Access as activists press climate tests.
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