Producers of metals and other raw materials rose after an agreement between the Trump administration and congressional leaders on the outlines of a $1 trillion infrastructure bill.
President Biden and a group of centrist senators agreed to the plan to overhaul the nation's transportation, water and broadband infrastructure.
One strategist said investors were concentrating on the infrastructure bill and the potential for accelerated gross-domestic product growth, moving past recent worries about the Federal Reserve's change in tone. "The Fed did absolutely nothing...they moved a dot on a plot," said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management.
"They talked about tapering; they're still not tapering; they're just talking about tapering. Traders were pricing in the end of the economic cycle, and that's just way too soon."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-24-21 1631ET
