The trader works on the trading floor of the New York Stock Exchange (NYSE) in Manhattan, New York City, USA on August 9, 2021. REUTERS / Andrew Kelly
New York, August 10 (Reuters)-Wall Street rises on Tuesday, both Dow Jones Industrial Average and Benchmark S & P 500 close record highs, US Senate $ 1 trillion bipartisan infrastructure Passing through the package earned a stock of economically sensitive value.
The bill now heading to the House of Representatives could provide the country’s largest investment in roads, bridges, airports and waterways in decades. Senators have also begun voting on a $ 3.5 trillion spending package for follow-up that Democrats plan to pass without a Republican vote. read more
Ken Polcali, Managing Partner of Kace Capital Advisors in Boca Raton, Florida, said:
“I don’t think the market will be okay at $ 3.5 trillion, but the market hasn’t focused on it yet, as they could block it, delay it, or have more conversations. . “
energy (.SPNY),industry (.SPLRCI) And materials (.SPLRCM)Names such as Caterpillar, in a position to benefit from economic recovery, were one of the top performing S & P sectors. (CAT.N), Deer (DE.N) And Balkan Materials (VMC.N) Each increased by about 2% as they were ready to enjoy the benefits of infrastructure projects.
iShares US Infrastructure ETF (IFRA.Z) Global X US Infrastructure Development ETFs Up 1.45% (PAVE.Z) Advanced 2.19%.
Energy stocks have risen as the recent plunge in crude oil prices has skyrocketed by nearly 3%. read more
Dow Jones Industrial Average (.DJI) The S & P 500 rose 162.82 points (0.46%) to 35,264.67. (.SPX) The Nasdaq Composite Index rose 4.4 points (0.10%) to 4,436.75. (.IXIC) It decreased by 72.09 points (0.49%) to 14,788.09.
With the rise of new coronavirus cases in the United States, advances in infrastructure packages should support the world’s largest economic recovery.
Due to the rapid spread of delta variants, COVID-19 cases and hospitalizations reached a 6-month high, averaging 100,000 cases for 3 consecutive days, an increase of 35% over the past week. read more
Investors also received comments from two Fed officials on Monday, giving insight into the Fed’s monetary policy plan that it has already reached a level where it can meet some of the requirements to start inflation. Monitor inflation this week to get. hiking. read more
AMC Entertainment (AMC.N) Movie fans returned to the theater after a year of closures and restrictions, giving up early profits and ending the session 6.07% lower, even after exceeding second-quarter earnings estimates. read more
Southern Kansas City (KSU.N) Increased 7.47% after Canadian Pacific Railway Ltd (CP.TO) We raised our offer to US railroad operators by about $ 2 billion to $ 27.29 billion. read more
On the New York Stock Exchange, ongoing issues outnumber ongoing issues by a ratio of 1.19: 1. On the Nasdaq, a 1.16 to 1 ratio supported the decline.
The S & P 500 posted 50 new 52-week highs and 2 new lows. The Nasdaq Composite recorded a new high of 82 and a new low of 95.
While trading volume on the US exchange was 8.99 billion shares, the average for all sessions over the last 20 trading days was 9.61 billion shares.
Reported by Chuck Mikolajczak; edited by David Gregorio
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