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Stock market investors prepping for Biden's $2T spending plan to sail through Congress
Biden’s infrastructure plan is the most ‘reckless’ fiscal policy in US history: Steve Moore
Economist Stephen Moore discusses President Biden’s massive infrastructure plan and New York lawmakers raising taxes.
Investors are pouring money into the areas of the stock market that would benefit most from President Biden’s $2.25 trillion infrastructure package.
The industrial and materials sectors were the only two within the S&P 500 to see inflows last week, according to Bank of America. Materials saw $78 million of inflows and industrials had $19 million of inflows while the benchmark S&P 500 saw more than $400 million of outflows.
“We expect both [industrial and materials] to benefit from a pick-up in 'picks & shovels' capex — with room for inflows to continue after cumulative outflows in both sectors in 1Q and 2020,” wrote a team of Bank of America strategists led by Jill Carey Hall.