Mortgage rates, electric cars and more on today’s “After the Bell” 5/2/22

The White House opens its wallet to build electric cars. And more Amazon workers put a union vote to the test. Good afternoon. A last-hour push by investors sent the markets into positive territory to finish the day.

The Dow gained 84 points to close at 33,061
The Nasdaq was today’s big winner, jumping 201 points, or 1.6%.
The S&P gained 23.

**********

Bad news if you’re buying or refinancing a house. The 10-year treasury yield topped 3% today. That influences how much you pay for mortgages and other loans. That rate hasn’t been this high since December of 2018.

**********

The Biden Administration will invest $3 billion in lithium-ion batteries to make electric cars. One advisor says it helps makes the U-S more energy independent.

**********

Manufacturing activity in the U-S is at its slowest rate in almost two years. Why? Too many workers are quitting, and companies are anxious about supply chain issues.

**********

Amazon workers in Staten Island rejected the effort to become a union. Just a month ago, an Amazon warehouse down the street from that one became the country’s first to join a union. Today’s vote – 380 for unionizing, 618 against.

**********

From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.