US News Briefs: Dow Surges, Trump Politics, and Renewable Energy Subsidies
The U.S. saw notable developments: the Dow rose as UnitedHealth's stock gained, retail sales increased, and Trump administration policies stirred debate. New regulations for wind and solar subsidies were released, a federal court ruled against Maryland's digital ad tax, and the U.S. government's legal actions against California's truck emission standards continued.
The Dow Jones reached an intraday high, concluding the week on an upward note, primarily due to UnitedHealth's stock surge spurred by Berkshire Hathaway's investment. However, uncertainty over the Federal Reserve's monetary policy led other indexes to waver.
Retail sales in the U.S. gained strength in July, with motor vehicles and major retailers like Amazon.com benefiting from increased consumer demand. Despite this growth, concerns persist as a slowing job market looms over future consumer spending.
The Trump administration announced new rules impacting how wind and solar projects qualify for tax subsidies. These changes are part of a broader initiative as the administration moves to phase out certain financial incentives over the next couple of years.
(With inputs from agencies.)
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