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* Rising futures: Dow 0. 41%, S
By Sagarika Jaisinghani
Aug 2 (Reuters) – U. S. inventory index futuresU. S. They went up on Monday when a $1,000 infrastructure bill filed through U. S. senators. U. S. It raised hopes of additional fiscal stimulus, while investors turned to knowledge of production to gauge the speed of a domestic economic rebound.
The Senate on Sunday unveiled a bipartisan plan to invest in roads, bridges, ports, high-speed internet and other infrastructure, and some predict the space could pass the largest public works bill in decades this week.
Shares of infrastructure-related stocks, Caterpillar Inc, rose in premarket trading.
Trillions of dollars in financial and fiscal stimulus have pushed Wall Street’s primary indexes to record levels following the collapse of the coronavirus last year, and while symptoms of soaring inflation have heightened fears of an interest rate hike, the Federal Reserve has so far maintained its dovish stance.
On Monday, july production activity will be reported, while on Friday, the Labor Department will release its monthly jobs report. Economists expect nonfarm payrolls to top 900,000 last month from 850,000 in June.
At 6:45 a. m. ET, Dow e-minis were up 142 points, or 0. 41%, e-minis
In a sign of a recovery in M&A activities, Square Inc, the payments company of Twitter Inc. co-founder Jack Dorsey, said it would buy Australian Buy now and then pay pioneering Afterpay Ltd for $29 billion.
Afterpay’s Australian shares rose 18. 8%, while Square’s U. S. -listed shares fell 4. 2%.
At the same time, a rebound in corporate earnings and a recent decline in bond yields will moderate U. S. equity valuations. Which further strengthens the case of stock ownership.
After the tech giants’ combined quarterly reports last week, this week focuses on earnings reports from Eli Lilly, CVS Health and General Motors.
Shares of banks such as JPMorgan Chase
(Reports by Sagarika Jaisinghani from Bangalore; edited through Shounak Dasgupta)