A woman poses with the “Charting Bull” statue in New York City on February 17, 2021.
ANGELA WEISS | AFP | Getty Images
The Dow Jones Industrial Average and S&P 500 both hit record highs, and the stock market remained stable in night trading on Monday.
The Dow Jones Industrial Average futures and S&P 500 futures were almost unchanged. Nasdaq 1
After the blowout work report and the surge in activity in the service industry showed that the vaccine has accelerated, and the momentum of the economic rebound strengthened, Wall Street rose to a record level on Monday.
Chris Larkin, managing director of trading and investment products at E-Trade Financial, said: “Vaccinations are at record levels, and Congress’s historic stimulus measures have paved the way for the continued positive market momentum. the way.”
Bond yields have calmed down again. The 10-year U.S. Treasury bond yield has stabilized at 1.71%, which has alleviated people’s concerns about rising inflation.
The governor of the Cleveland Federal Reserve Bank, Loretta Mester, told CNBC on Monday that she is basically not concerned about the rise in government bond yields this year.
Meister said: “I think that higher bond yields are understandable in the context of improved economic prospects. This increase is an orderly increase.” “Therefore, I am not worried about the rise in yields right now. I don’t think the Fed has any response.”
Investors continue to evaluate the US$2 trillion infrastructure construction plan proposed by President Joe Biden and the chances of its realization. Although politicians on both sides of the aisle provided funds to rebuild American roads and bridges, there were still differences on other priorities and the size of the final bill. There is also controversy about Biden’s financing plan for part of the plan to increase corporate tax to 28%.
Biden said on Monday that he is not worried that corporate tax increases will harm the economy. According to reports, Conservative Democratic Senator Joe Manchin of West Virginia said he opposed raising the tax increase to 28%.