Wall Street Today: BlackRock warns U.S. stocks at risk from higher tax

Moomoo Recap US joined discussion · Jun 30, 2021 08:00

Wall Street Today: BlackRock warns U.S. stocks at risk from higher tax

Stocks close at new highs—again. What’s next.

Stocks rose to new all-time highs on Tuesday as economic data beat estimates.

The $Dow Jones Industrial Average (.DJI.US)$rose 9 points, or 0.03%. The $S&P 500 Index (.SPX.US)$rose 0.03% and closed at a record 4,291.90. The $Nasdaq Composite Index (.IXIC.US)$rose 0.2%also closing at a new high of 14,528.33.

Global stocks are up about 90% from the worst of the market panic over the pandemic in March last year, helped by the rollout of vaccines.

BlackRock warns U.S. stocks at risk from higher tax, peak growth

BlackRock Investment Institute strategists are dialing down their excitement for U.S. stocks, at least in the near term.

The risk of higher taxes, tighter regulation and potential for faster economic growth in other developed countries has dented the market’s appeal, the strategists led by Wei Li said in anote.

United Airlines bets on post-pandemic growth with its biggest-ever jet order

$United Airlines (UAL.US)$is making its largest ever plane order, adding Boeing and Airbus jets to fuel its post-pandemic growth plans.

The Chicago-based airline said Tuesday that it will purchase 200 of $Boeing (BA.US)$’s 737 MAX jets and 70 larger $AIRBUS SE (EADSF.US)$A321neos, a deal valued at more than $30 billion at list prices before customary discounts.

Intel delays new chip in first setback for CEO Gelsinger’s turnaround effort

Chip maker $Intel (INTC.US)$is delaying production of one of its newest chips to improve performance, the first significant product setback under new Chief Executive Pat Gelsinger as he seeks to rebuild the company’s competitiveness.

Moderna shares rise after it says Covid vaccine shows promise in a lab setting against variants, including delta

$Moderna (MRNA.US)$said Tuesday its vaccine showed promise in a lab setting against coronavirus variants, including the highly contagious delta variant first identified in India.

The U.S. is falling further behind China and Europe in electric-vehicle production

The International Council on Clean Transportation warns that the U.S. is falling further behind Europe and China on electric-vehicle production.

Policies “focused on a transition to zero-emission vehicles” have spurred EV production and uptake in Europe and China, the researchers concluded.

Meanwhile, in the U.S., policies that could have driven increased production, investment in and purchases of electric vehicles have been rolled back or phased out.

Elon Musk says SpaceX prepared to spend $30bn on Starlink

Elon Musk said his private rocket company SpaceX is prepared to spend up to $30bn to establish that now has 70,000 users across 12 countries.

Musk said Starlink is on track to provide global coverage — “everywhere except the poles” — by August and aims to have half a million users “within 12 months.”

US home prices rise at fastest pace in more than 30 years

US home price growth accelerated in April at the fastest pace in more than three decades as strong housing demand continued to come up against a shortage of residential properties.

The S&P Case-Shiller national home price index, which covers all nine US census divisions, rose 14.6 per cent year on year in April, data on Tuesday showed. That followed a 13.3 per cent annual jump in March, and was “the highest reading in more than 30 years,” according to the report.
$Tesla (TSLA.US)$ $Electric Vehicles (LIST2568.US)$

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