NEW YORK Investors will watch Washington in the coming week for clues on whether an outsized rally in shares of companies that would benefit from President…
NEW YORK: Investors will watch Washington in the coming week for clues on whether an outsized rally in shares of companies that would benefit from President Joe Biden’s proposed $1.7 trillion infrastructure plan has more room to run. Expectations of spending from Washington on bridges, roads, and tunnels bolstered so-called value stocks, especially the industrials and
By David Randall NEW YORK (Reuters) - Investors will watch Washington in the coming week for clues on whether an outsized rally in shares of companies that would benefit from President Joe Biden s proposed $1.7 trillion infrastructure plan has more room to run. Expectations of spending from Washington on bridges, roads, and tunnels bolstered so-called value stocks, especially the industrials and materials sectors, both up around 20% this year, ahead of the 12.5% gain for the S&P 500. Among the biggest winners have been shares of United States Steel Corp, up nearly 200% since the start of the year, while steel producer Nucor Corp s stock has gained around 104%.
Investors will watch Washington in the coming week for clues on whether an outsized rally in shares of companies that would benefit from President Joe Biden's proposed $1.7 trillion infrastructure plan has more room to run.