General Motors expects its electric vehicles' record sales

News of the day, Thursday, April 7

Main American stock indexes fell on Wednesday with dramatic losses in tech stocks after new hawkish Fed announcements and minutes from the interest rate meeting held on 15-16 March. The tech-heavy Nasdaq declined 2.2% for the second day in a row. The Dow Jones Industrial Average fell 0,42%, and the S&P 500 was down by 0.97%. The records from Fed show that the policymakers are set to cut the central bank’s balance in the next month. 

"The Fed is determined to rein in inflation, and we just hope and pray that there will be a soft landing of the economy and not a hard landing that sends us into a recession," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder.

General Motors expects Chevrolet Bolt EV model sales to achieve record results in 2022 after a massive recall caused by several cars caught fire. GM will try to relaunch Bolt models in the USA starting today with a big TV advertising campaign.

“We see record numbers of sales and production for ’22, and we see ‘23 being bigger than ’22. We are bullish on both EV and EUV,” Steve Majoros, vice president of Chevrolet marketing, told media Wednesday.

The price of Brent crude is $101.50, WTI — $96.70, GBP/USD — 1.3083, EUR/USD — 1.0879, and gold costs $1926.00 per ounce.