U.S. stock indexes ticked higher Tuesday morning as the Senate readied to vote on a $1 trillion infrastructure bill.
The Dow Jones Industrial Average rose 12 points, or 0.04%, while the S&P 500 index and the Nasdaq Composite index advanced 0.06% and 0.15%, respectively.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
I:DJI | DOW JONES AVERAGES | 35138.78 | +36.93 | +0.11% |
SP500 | S&P 500 | 4437.87 | +5.52 | +0.12% |
I:COMP | NASDAQ COMPOSITE INDEX | 14877.496013 | +17.32 | +0.12% |
The Senate will on Tuesday morning likely pass the bipartisan infrastructure package that would provide funding for repairing roads and bridges, among other things.
SCHUMER: ‘WE HAVE COME TO AN AGREEMENT’ ON INFRASTRUCTURE BILL, VOTE EXPECTED TUESDAY
However, House Speaker Nancy Pelosi has said the lower chamber of Congress will not vote on the bill unless the $3.5 trillion human infrastructure package also passes in the Senate, where Democrats have pledged to use the budget reconciliation process to circumvent a Republican filibuster. Doing so would allow Senate Democrats to pass the bill with 50 votes.
In stocks, infrastructure-linked names, including Caterpillar Inc., Fluor Corp. and Martin Marietta Materials Inc., were in focus ahead of the infrastructure vote.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
CAT | CATERPILLAR, INC. | 209.28 | +0.48 | +0.23% |
FLR | FLUOR CORP. | 17.09 | -0.04 | -0.26% |
MLM | MARTIN MARIETTA MATERIALS, INC. | 371.81 | +2.72 | +0.74% |
Elsewhere, Tesla Inc. sold 32,968 China-made vehicles in July, a 69% decline from the prior month, according to the China Passenger Car Association. Nearly 74%, or 24,347 vehicles, were exported out of China.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
TSLA | TESLA, INC. | 704.96 | -8.80 | -1.23% |
In earnings, AMC Entertainment Holdings Inc. reported quarterly earnings and revenue that exceeded Wall Street estimates as moviegoers flooded back into theaters following more than a year of closures. The movie theater chain announced it would begin accepting bitcoin before the end of the year.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
AMC | AMC ENTERTAINMENT HOLDINGS INC | 36.15 | +2.37 | +7.01% |
In deals, Canada Pacific Railway Ltd. raised its offer for Kansas City Southern to $300 per share in cash and stock, representing an enterprise value of about $31 billion.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
KSU | KANSAS CITY SOUTHERN | 288.97 | +18.56 | +6.86% |
CP | CANADIAN PACIFIC RAILWAY LTD. | 71.96 | -0.73 | -1.00% |
In commodities, West Texas Intermediate crude oil jumped 78 cents to $67.26 a barrel and gold rose $2.20 to $1,728.60 an ounce.
Overseas markets were broadly higher.
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In Europe, Germany’s DAX 30 and France’s CAC 40 ticked up 0.27% and 0.13%, respectively, while Britain’s FTSE 100 was little changed.
Asian bourses rallied across the board with Japan’s Nikkei 225 rising 0.24%, China’s Shanghai Composite climbing 1.01% and Hong Kong’s Hang Seng index gaining 1.23%.