Of course this will take a lot of investment, supply chain work, and deployment of chargers and other associated laws and regulations even down to the local level in order to prepare the country for the shift to electric cars. But many of those investments are in the process of being made by the Biden administration, through allocation of funds from the Inflation Reduction Act, and states and cities have slowly been removing roadblocks to charger installation as well (e.g. through Right to Charge). The EPA move isn’t being made in a vacuum, and while it’s a step further than the early ambitions of the administration, work has been done and the market has evolved since that early executive order. With EV demand through the roof and so many new investments into EV production, it looks like the administration seems confident that these targets are achievable. Besides, these targets are necessary. The IEA says that all new passenger car sales need to be electric, globally, by 2035, if we’re to avoid the worst effects of climate change. So there’s really no question over whether we should do this, or whether we can. We have to, so we better figure out a way to do it, because this is not something we have a choice over. And while many automakers will complain about how hard it is, perhaps a change in perspective is warranted: electric cars are coming, and automakers who don’t shape up will be caught with their pants down, even moreso than they already have been. A swift kick in the rear by regulators might just force them into action they never would have taken on their own. And as customer desires continue to shift more towards better, cleaner vehicles and sales of worse, dirty vehicles dry up, laggard automakers will find themselves in a better situation than if they had just sat there twiddling their thumbs, hoping for it all to pass. Besides, we’ve seen EV goals get exceeded elsewhere. Norway is handily meeting even the most ambitious goals in the world, The UK has pushed forward its timeline (twice), and in China some gas cars are already becoming valueless. There are plenty of examples of EV adoption happening faster than expected. So maybe a can-do attitude would behoove us, here in America… where we used to value that sort of thing.

Investors head into a busy week following the long Easter holiday weekend with the kickoff of earnings season and a key meeting of the IMF and World Bank.

The stock market wrapped the short week mixed with the S&P 500 and the Nasdaq Composite posting fractional weekly losses, while the Dow Jones Industrial Average inched modestly higher.

FOX Business breaks down this week’s top market events:

Monday, April 10

The World Bank and IMF spring meetings kick off with Kristalina Georgievea, the IMF’s managing director, and David Malpass, the president of the World Bank Group, hosting a seminar on “The Way Forward,” which will likely include updated projections for the global economy.

Elsewhere, economic data includes inflation expectations, which are forecast to contract, as well as a speech from John Williams, president, Federal Reserve Bank of New York.

Tuesday, April 11 – One Week Until Tax Day

Tuesday marks one week until Tax Day for those still needing to file.

Also, the National Labor Relations Board conducts a hearing investigating a complaint against Starbucks for alleged unfair labor practices at four stores.

Moderna will also be hosting its Vaccine Day with presentations from management and key opinion leaders on Moderna’s mRNA vaccines and key considerations for vaccine development.

Earnings reported before markets open will include Albertsons and CarMax, with nothing of note reporting after the bell.

Economic data this week will include the NFIB business optimism index.

Wednesday, April 12

The highly anticipated Consumer Price Index will be released and is expected dip below 6% in a sign inflation is moderating.

In corporate news, embattled Bed Bath & Beyond is expected to report earnings before markets open as the company continues to fend off bankruptcy.

Bed Bath & Beyond

After the bell Rent the Runway is expected to report earnings.

Thursday, April 13

On Thursday earnings before markets open include Delta Air Lines and Fastenal, with nothing of note after the bell.

Economic data reported will include initial jobless claims and the producer price index, which like the CPI, is expected to moderate to the 3% level, falling below the 4.6% in the last read.

Friday, April 14

On Friday investors will get the first update on the banking sector after the collapse of Silicon Valley Bank and Signature Bank.

JPMorgan Chase and the much watched First Republic Bank will report, along with PNC Financial Services Group, Citigroup, Wells Fargo and BlackRock. UnitedHealth Group is also on the docket.

In merger news, Canada Pacific and Kansas City Southern will officially combine. The new company will be called Canada Pacific Kansas City and will be North America’s first transnational railroad.

Economic data to round out the week will include import prices, export prices, retail sales, industrial production, business inventories, and University of Michigan’s consumer sentiment index. The CSI is expected to remain steady near its four-month low around 64.

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