Back
1 Aug 2021
US Bipartisan infrastructure bill being finalized “imminently”
US Senate Majority Leader Chuck Schumer said on Sunday that a $1 trillion bipartisan infrastructure bill was being finalized "imminently" and that the legislative effort was firmly on track to be completed in a matter of days.
"Despite some bumps in the road, always expected on two bills as large and comprehensive as these, we remain firmly on track to achieve our two-track goal," Schumer said.
The implications are positive for the US stock market that has printed fresh highs in recent sessions. Technically, after surpassing the daily 78.6% Fibonacci threshold (34,850) earlier in the week, the Dow remains in good stead for additional gains above 35,000 with the 35,500s the level to beat.