S&P and Nasdaq Set New Highs; Beyond Meat in a minor key | Financial

The Dow Jones index ends 1% higher at 34,196 points and the broad S&P 500 gains 0.6% to a record 4266.5 points. Technology gauge Nasdaq thick 0.7% to a new high of 14,369 points.

President Joe Biden closed the deal with a Senate representative during a round of negotiations in the White House. The investments are good for millions of American jobs, Biden said. The White House and Congress have been discussing the package for months, and it’s not over. It is not yet clear where all the money will go. What is clear is that it could become the largest financial injection in decades into roads, bridges and ports in the US.

Investors on Wall Street again processed a series of economic reports. The number of new unemployment claims in the United States reached 411,000 last week. That was slightly less than a week earlier, but more than the 380,000 that had been taken into account by experts.

Tesla is up 3.5%. Biden wants to invest a lot of money in infrastructure for electric vehicles such as charging points, which is beneficial for manufacturers of electric cars. Machine builder Caterpillar, known for its excavators, also benefited from the president’s investment plans with a 2.6% increase. Steel companies US Steel and Nucor were up 3.4%.

Cable TV company Comcast gets 1.1% more. The parent company of NBCUniversal and CNBC, among others, is considering various ways to play a more dominant role in video streaming. One of the options that would be on the table is the acquisition of Roku or a partnership with ViacomCBS.

Meat substitute producer Beyond Meat loses 2.4%. Several locations of Dunkin’ Donuts are said to have removed the Beyond Sausage breakfast sausage from the menus. The wrap with the vega sausage may also disappear from the range.

Attention was also paid to credit card company Visa (+0.6%) which announced that it would pay 2.2 billion dollars for the Swedish fintech company Tink.

–