MH Daily Bulletin: June 29

June 29, 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’s Wire & Cable team is in Philadelphia, Pennsylvania for AMI’s Polymers in Cables this week! This conference covers the latest technical developments, manufacturing solutions and trends in the wire and cable industry.
  • M. Holland will be closed Monday in observance of the July Fourth holiday. We wish all subscribers a safe and happy holiday weekend.

Supply

Supply Chain

Domestic Markets

  • The U.S. reported 125,440 new COVID-19 infections and 549 virus fatalities Tuesday. 
  • The fast-spreading BA.4 and BA.5 subvariants of Omicron surpassed 50% of total U.S. cases. 
  • Officials fear BA.5 will cause a sixth wave of COVID-19 in New York City. 
  • A renewed mask mandate in the San Francisco Bay Area was scrapped Tuesday after less than a month.
  • Yesterday, the CDC added the Dominican Republic and Kuwait to its list of high-risk countries for COVID-19 infection.  
  • FDA advisers recommended that vaccine makers update their COVID-19 shots to boost effectiveness against new virus strains this fall. 
  • Consumer sentiment about the U.S. economy is at its lowest point in nearly a decade, new data from the Conference Board shows. 
  • The U.S. trade deficit in goods fell 2.2% in May to $104.3 billion, a second straight decline that could give a lift to GDP in the current quarter. 
  • The Richmond Fed’s manufacturing index came in at a lower-than-expected -19 in June, the lowest reading in over two years. 
  • New data shows U.S. home-price growth slowed modestly from March to April, although prices were still up more than 20% year over year. 
  • U.S. airlines cut 2,100 more flights in June from the same month in 2019 amid rising chaos at airports. 
  • Delta Air Lines pilots will picket for several hours tomorrow at major airports across the country to protest pay and mass flight cancellations. The airline is letting travelers change flights for free this holiday weekend ahead of more expected disruptions. 
  • Firms are slated to invest over $700 million in U.S. manufacturing capacity for electric-vehicle chargers, the White House said. 
  • Tesla is laying off hundreds of workers as it shutters a facility in San Mateo, California. 
  • U.S. vehicle quality declined to a 36-year low this year, J.D. Power says. 
  • Fewer Americans plan to take road trips over the next several months due to surging gasoline prices, surveys show. 
  • Use of Teslas among ride-share drivers is surging due to high gas prices. 
  • Goldman Sachs’ consumer unit is expected to lose over $1.2 billion this year due to rising costs. 
  • Walgreens Boots Alliance scrapped a plan to sell its Boots pharmacy business due to a lack of interest. 
  • Apple’s revolutionary iPhone celebrated its 15th anniversary yesterday: 
The iPhone Models Boosting Apple's Market Share

International Markets

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