NEW YORK, June 21 — Wall Street stocks mostly rose early today, with the Dow bouncing back from last week’s rout as markets monitor Capitol Hill talks on a large infrastructure package.
The Dow, which experienced its worst week since October last week as the Federal Reserve shifted to a more hawkish posture, climbed in early trading as investors try to assess the odds Washington will produce a large infrastructure deal.
A bipartisan group of senators is crafting a US$1.2 trillion package that could potentially break the logjam on Capitol Hill. But the proposal has garnered a skeptical response from progressive lawmakers who want greater investment.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.9 per cent at 33,598.69.
The broad-based S&P 500 gained 0.5 per cent to 4,186.60, while the tech-rich Nasdaq Composite Index slipped 0.2 per cent to 14,002.50.
This week’s calendar includes economic reports on durable goods orders and new home sales, as well as congressional testimony from Fed Chair Jay Powell. — AFP
Source: Malay Mail
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