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2021-11-08

A boom for infrastructure related stocks in the near future?

Dow jumps 200 points after Congress passes infrastructure spending package

The Dow Jones Industrial Average jumped to a new intraday high Monday after Congress approved an infrastructure spending package.The blue-chip average gained 220 points, or 0.6%. The S&P 500 ticked up 0.2% and the Nasdaq Composite added 0.2%.The U.S. House of Representatives late Friday passed a more than $1 trillion infrastructure bill, sending the legislation to PresidentJoe Bidenfor his signature. The package, first passed by the Senate in August, would provide new funding for transportation,

Dow jumps 200 points after Congress passes infrastructure spending package

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U.S. payrolls added 531,000 jobs last month, according to the Labor Department. Friday’s report also revised up September and August payroll numbers.\n“The economy is certainly picking up some momentum,” JPMorgan’s David Lebovitz said Friday on CNBC’s “Squawk on the Street.” “We are expecting economic growth to accelerate here into the end of 2021 and the beginning of 2022.”\nThe Federal Reserve earlier last week announced a plan to begin tapering its pandemic-era economic aid by the end of November, putting the central bank on track to end its asset purchase program by the middle of next year.\nInvestors await fresh inflation readings in the week ahead. The producer price index and consumer price index are slated for release on Tuesday and Wednesday, respectively. 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Dow jumps 200 points after Congress passes infrastructure spending package

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