U.S. stocks climbed in early trading Thursday, President Joe Biden announced infrastructure plans to drive Wall Street to continue the strong rally in March, the S & P500 index rose above the 4,000-point barrier for the first time.
U.S. stocks climbed in early trading Thursday, TSMC ADR rose up to more than 5%. Associated Press
Biden announced an infrastructure plan covering roads, bridges, green energy and water system upgrades spending, the United States will spend about $ 2 trillion over eight years, which is the second large spending plan since Biden entered the White House. The U.S. will raise the corporate tax rate to 28% to fund the infrastructure plan, a move that raises concerns that rising tax rates may pose a threat to corporate profits and stock price recovery.
On the other hand, the bond yield continued to fall from recent highs to stimulate technology stocks to attack. The U.S. 10-year bond yield rose to around 1.77% last week, the highest in 14 months, before falling to 1.68% in Thursday’s session.
Latest U.S. stock data.
The Dow Jones Industrial Average rose 171.66 points, or 0.52%, to 33,153.21.
The S&P500 index rose 1.18% to 4019.87 points, the
Nasdaq rose 1.76% to 13,480.11 points.
U.S. stocks 1 early trading higher, the S&P 500 index exceeded the 4,000-point mark for the first time, despite the unexpected increase in the number of U.S. unemployment benefits last week, investors are still optimistic about the recovery of the global economy.
The U.S. Department of Labor said on March 1, as of March 27, the number of initial jobless claims for the week was 719,000, an increase of 61,000 over the previous week, more than the market expected 675,000.
This shows the volatile nature of the labor market recovery, as well as to restore the millions of unemployed due to the new crown pneumonia epidemic, still need time. However, the massive infrastructure plan proposed by U.S. President Joe Biden has enhanced investors’ expectations for economic growth.
Recent Comments