Bloomberg - Evening Briefing - Goldman’s rosy forecast

The latest wave of coronavirus infections to strike the U.S. is increasingly pushing back corporate return-to-work plans. BlackRock and Wells Fargo have retreated to early October. And Amazon said on Thursday that its corporate employees won’t have to return to the office regularly until January. More broadly, there are increasing signs that the more easily transmitted delta variant may slow the pace of the U.S. economic recovery. —David E. Rovella

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic worldwide. 

But on Wall Street, the future looks bright. Goldman Sachs strategists lifted their outlook for the S&P 500 Index as robust earnings growth and low interest rates fuel optimism that stocks can continue rallying despite record high levels. Here’s your markets wrap.

A huge melting event in Greenland and reports that an ocean system critical to global climate may soon stall were just two of the growing number of grim daily stories about accelerating global warming. Marked by catastrophic wildfires, this July was the third hottest on record. Next week, the United Nations Intergovernmental Panel on Climate Change releases a major report, representing a total refresh of the global consensus on climate science for the first time since 2013. 

Not vaccinated? Here’s how you could kill someone’s father. Faye Flam writes in Bloomberg Opinion how a doctor and vaccine expert learns firsthand just how devastating Covid misinformation can be. 

U.S. Senator Tammy Duckworth, a former Army helicopter pilot who lost both legs in the Iraq war, introduced legislation in May that became a proposed amendment to the massive infrastructure bill now pending in Congress. The Democrat’s bill would require transit agencies that receive federal accessibility grants create explicit plans for prioritizing accessibility for people with disabilities. This week, the amendment was defeated largely along party lines, with Republican Senator Pat Toomey of Pennsylvania calling the disability measure “politically correct virtue signaling,” and “a woke planning mandate.”

Beijing added new curbs and travel restrictions rose across China as a delta variant-driven Covid-19 outbreak grew to more than 500 cases in 15 provinces. In Malaysia, hospitalization rates will take the place of infections in guiding official decisions on state reopenings. Worldwide, there were at least 640,000 new cases and 10,000 deaths on Aug. 3 alone. In the U.S., there were 150,000 confirmed new cases on Aug. 3. Of the four previous waves to wash over America since Covid-19 arrived, only the third wave this past winter was worse when it came to daily rates of infection. And the lagging indicator of death is beginning to rise now too, with 725 Americans killed by the virus yesterday. In Florida, hospitals are struggling to get oxygen due to a spike in cases and Republican Governor Ron DeSantis’s decision not to declare a state of emergency. Here’s the latest on the pandemic. 

The most significant change to the Ethereum blockchain since 2015 shows the network is well-positioned to make an even bigger upgrade to reduce its energy use by 99%, according to its inventor, Vitalik Buterin. Ethereum and rival Bitcoin both operate using a proof-of-work system that requires a global network of computers running around the clock. Software developers have been working to transition the blockchain to what’s known as a proof-of-stake system, which uses a totally different approach to secure the network that also eliminates the carbon emissions issue.

Beyond Meat, the maker of plant-based burgers and sausages, fell in late trading on Thursday after forecasting that demand will moderate in the third quarter. The company’s outlook suggests its rapid growth is cooling off quickly.

• Businessweek: The reasons why the U.S. labor force is shrinking.
• Ex-Tesla employee called a racial slur gets $1 million award.
• Apple to detect, report sexually explicit child photos on iPhones.
• Novavax delays U.S. vaccine submission, and its stock dropped.
• Philipine peso falls most since 2013 ahead of Manila lockdown.
• Israel is making noises about attacking Iran after tanker strike.
• The creators of “South Park” just got a $900 million deal.

  Covid, Fires Spell Money for Air Purifier Makers

  Between Covid-19’s airborne transmission and more recently the choking smoke sent aloft by western wildfires—some of which drifted thousands of miles to settle over East Coast cities—the very air Americans breathe has become a threat. One sector that’s managed to benefit from these dual crises however is the air purifier industry. Sales have been climbing since the onset of the pandemic, a trend that’s been turbocharged by unprecedented, climate change-induced infernos raging across the West.

  
  Smoke from wildfires fills the sky near Greenville, California, on July 24.  Photographer: David Odisho/Bloomberg

  HBCUs—The Path to Prosperity: Systemic barriers have persisted when it comes to philanthropic support for historically Black colleges and universities (HBCUs) and organizations. Join Bloomberg on Sept. 15 when we bring together leaders from government, higher education, philanthropy and business to discuss how these institutions can get the support they need to keep educating and uplifting diverse talent. Sponsored By UNCF. Register here.

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