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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 06, 2021
Page
11
A broad market rally pushed the S&P 500 the Nasdaq to record highs as tech retailers and other consumer firms led gains while healthcare and materials stocks fell. The 10 year yield rose to 1.21 percent as investors awaited the monthly jobs report amid Delta variant concerns.
President Biden calls for rapid U.S. shift to battery cars with automakers aiming for 40 to 50 percent of new vehicle sales to be electric by 2030. He cites new EPA and DOT standards and a rush to manufacture batteries and semiconductors domestically, signaling job growth and billions in federal investment.
U S unemployment benefits declined last week to 385,000 while noting the recovery from the coronavirus recession. Medina and Lorain counties posted sizable weekly drops, with statewide claims rising slightly. The broader outlook cites vaccines, job gains, and rising COVID cases with delta variant concerns.
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