MH Daily Bulletin: June 28

June 28, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • M. Holland will be charging a fee to recover the reinstated Superfund Excise Tax for applicable U.S. orders starting July 1, 2022. Clients will be notified of details this week. Learn more about the tax in this Plastics News article.
  • M. Holland is sponsoring AMI’s Polymers in Cables on June 28-29 in Philadelphia, Pennsylvania. This conference covers the latest technical developments, manufacturing solutions and trends in the wire and cable industry. M. Holland is also hosting the event’s networking reception on June 28 at 5:30 pm ET!
  • If you’re attending AMI’s Polymers in Cables in Philadelphia, mark your schedule for M. Holland’s technical session:

Supply

Supply Chain

Domestic Markets

  • The U.S. reported 124,834 new COVID-19 infections and 270 virus fatalities Monday. 
  • The fast-spreading BA.4 and BA.5 subvariants of Omicron could cause “substantial” COVID-19 infections this summer, health experts say. 
  • Roughly 7.5% of Americans are struggling with long-COVID symptoms, new research shows. 
  • Almost 13% of the U.S. Army National Guard is at risk of discharge ahead of a COVID-19 vaccine deadline this Thursday. 
  • FDA advisers will decide today whether to allow COVID-19 vaccine makers to update their shots for new variants this fall. 
  • U.S. durable goods orders rose 0.7% in May, driven mostly by rising sales for cars, computers and military aircraft. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose a respectable 0.5%
United States Durable Goods Orders
United States Pending Home Sales MoM
  • Four of the six biggest U.S. banks boosted their dividend payments Monday after the Federal Reserve’s stress testing showed they could keep lending even in a severe recession. 
  • Almost half of Americans report greater financial stress due to rising costs for housing, healthcare and other expenses. 
  • Stocks of consumer-staples firms are rising by double-digit percentages amid a broader bear market for U.S. equities. 
  • U.S. cities that saw the biggest jumps in home prices during the pandemic now have the largest share of price cuts, according to Zillow. 
  • Business is slowing sharply in the home-lending business, forcing cutbacks and layoffs at online home sellers and the mortgage units of major banks. 
  • The median U.S. rent price topped $2,000 for the first time in May, up 15% over the past year. 
  • A Federal Reserve index of Texas manufacturing activity fell to -17.7 in June, extending declines from the prior month to the lowest level in two years:
United States Dallas Fed Manufacturing Index

International Markets

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