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2021-02-22
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U.S. stock-market investors are already betting on an infrastructure spending spree<blockquote>美国股市投资者已经押注基础设施支出热潮</blockquote>
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Industrials are up more than 86% from those lows, while materials stocks, which investors also expect to benefit, have bounced 95%.</p><p><blockquote>该机械集团与更广泛的工业部门一起被视为基础设施支出增加的主要受益者，该集团已较去年3月创下的大流行低点上涨约118%，而标普500则上涨了78%。工业股较低点上涨了86%以上，而投资者预计也将受益的材料股已反弹95%。</blockquote></p><p> No doubt, part of those gains are down to other pro-cyclical factors, including vaccine rollouts, falling COVID-19 cases, and two heavy load of near-term fiscal stimulus, Hackett said. At the same time, investors are also aware that infrastructure spending is quite likely to lead to tax increases which could blunt the upside for stocks.</p><p><blockquote>哈克特表示，毫无疑问，这些收益部分归功于其他顺周期因素，包括疫苗的推出、COVID-19病例的下降以及两项大量的近期财政刺激措施。与此同时，投资者也意识到基础设施支出很可能导致增税，这可能会削弱股市的上涨空间。</blockquote></p><p> U.S. Treasury Secretary Janet Yellen, in a Thursday interview with CNBC, saidtax increases on corporations and high-income individualswould be used to pay for part of Biden’s infrastructure plan. Yellen said there wasn’t yet a cost estimate for an infrastructure plan that’s still being put together.</p><p><blockquote>美国财政部长珍妮特·耶伦周四在接受CNBC采访时表示，对企业和高收入个人的增税将用于支付拜登基础设施计划的部分费用。耶伦表示，尚未对仍在制定的基础设施计划进行成本估算。</blockquote></p><p> Meanwhile, companies that already have a “green” or eco-friendly tilt may be poised to benefit most within the sectors and industries likely to reap the benefits of an infrastructure program, said Elizabeth Vermillion, equity analyst at CFRA, in an interview.</p><p><blockquote>与此同时，CFRA股票分析师伊丽莎白·弗米利恩(Elizabeth Vermillion)在接受采访时表示，已经倾向于“绿色”或环保的公司可能会在可能从基础设施计划中受益最多。</blockquote></p><p> That includes companies like construction-equipment giant Caterpillar Inc.,which offer a variety of battery electric and alternative-fuel equipment that could be favored as part of a Biden plan. Trucking companies could also benefit as they look to piggyback on the build out of infrastructure for electric vehicles.</p><p><blockquote>这包括建筑设备巨头卡特彼勒公司（Caterpillar Inc.）等公司，该公司提供各种电池电动和替代燃料设备，这些设备可能会成为拜登计划的一部分。卡车运输公司也可能受益，因为他们希望利用电动汽车基础设施的建设。</blockquote></p><p> Companies related to 5G mobile phone infrastructure may also benefit, she said. That includes not only carriers and the companies developing 5G technology, but also industrial companies that will be building towers, putting wires in the ground and building out the grid.</p><p><blockquote>她表示，与5G手机基础设施相关的公司也可能受益。这不仅包括运营商和开发5G技术的公司，还包括将建造铁塔、铺设电线和建设电网的工业公司。</blockquote></p><p> At the same time, investor enthusiasm may be curbed by memories of 2016, when optimism ran rampant for a big infrastructure push after Donald Trump’s election victory. Those efforts came to nothing, with “Infrastructure Week” eventually becoming a political punchline.</p><p><blockquote>与此同时，投资者的热情可能会受到2016年记忆的抑制，当时唐纳德·特朗普(Donald Trump)赢得大选后，人们对大规模基础设施建设的乐观情绪甚嚣尘上。这些努力都化为乌有，“基础设施周”最终成为政治笑柄。</blockquote></p><p> Plenty of skepticism remains.</p><p><blockquote>许多怀疑仍然存在。</blockquote></p><p> Part of the political appeal of a large-scale infrastructure package is it’s ability to put people back to work. But if the economy does pick up momentum as vaccine rollouts continue, the resulting fall in unemployment could serve to undercut enthusiasm for infrastructure spending, said Nicholas Colas, co-founder of DataTrek Research, in remarks at a Thursday online seminar hosted by Capital Institutional Services.</p><p><blockquote>大规模基础设施计划的部分政治吸引力在于它能够让人们重返工作岗位。但DataTrek Research联合创始人尼古拉斯·科拉斯(Nicholas Colas)周四在Capital Institutional Services主办的在线研讨会上发表讲话时表示，如果经济确实随着疫苗的继续推出而回升，由此导致的失业率下降可能会削弱基础设施支出的热情。</blockquote></p><p> Meanwhile, if a plan is enacted that includes corporate tax hikes that unwind a portion of the Trump cut from 35% to 21%, investors should expect to see the biggest headwinds for utilities and communications stocks, the two biggest beneficiaries of the tax reduction, Hackett said. The third biggest hit would be suffered by industrial companies, blunting some of the upside from the increased spending.</p><p><blockquote>与此同时，如果一项包括提高企业税的计划得以实施，将特朗普减税的一部分从35%降至21%，投资者应该会看到公用事业和通信股面临最大的阻力，这是减税的两个最大受益者，哈克特说。工业企业将遭受第三大打击，削弱支出增加带来的部分上行空间。</blockquote></p><p> It isn’t only stock-market investors that are starting to pencil in prospects for more spending on infrastructure, Hackett said. Rising inflation expectations, in part, also reflect that potential as does the related rise in U.S. Treasury debt yields.</p><p><blockquote>哈克特表示，不仅仅是股市投资者开始考虑增加基础设施支出的前景。通胀预期上升在一定程度上也反映了这种潜力，美国国债收益率的相关上升也是如此。</blockquote></p><p> Indeed, while economists at Bank of America said they remained skeptical of inflation prospects around the globe, they see the U.S. as an exception. Big rounds of fiscal spending already in the pipeline and perhaps to come, including up to $2 trillion in infrastructure spending over four years, remain an upside risk to the inflation outlook, wrote Ethan Harris and Aditya Bhave, in a Feb. 5 note.</p><p><blockquote>事实上，尽管美国银行的经济学家表示，他们仍然对全球通胀前景持怀疑态度，但他们认为美国是个例外。伊森·哈里斯(Ethan Harris)和阿迪亚·巴韦(Aditya Bhave)在2月5日的一份报告中写道，已经在酝酿中以及可能即将到来的大规模财政支出，包括四年内高达2万亿美元的基础设施支出，仍然对通胀前景构成上行风险。</blockquote></p><p> The past week saw stocks end mostly lower but not far off all-time highs, with the S&P 500 losing 0.7% and the tech-heavy Nasdaq Composite down 1.6%. The Dow Jones Industrial Average eked out a 0.1% weekly gain.</p><p><blockquote>过去一周，股市大多走低，但距离历史高点不远，标普500下跌0.7%，以科技股为主的纳斯达克综合指数下跌1.6%。道琼斯工业平均指数周涨幅为0.1%。</blockquote></p><p> The week ahead will be closely watched for developments on Biden’s $1.9 trillion relief spending plan.</p><p><blockquote>未来一周将密切关注拜登1.9万亿美元救助支出计划的进展。</blockquote></p><p></p><p> Federal Reserve Chairman Jerome Powell will testify in front of lawmakers about monetary policy Tuesday and Wednesday. On the data front, the highlights include a revision of U.S. fourth-quarter gross domestic product data on Thursday, along with weekly figures on unemployment benefit claims and a reading on January durable-goods orders.</p><p><blockquote>美联储主席鲍威尔将于周二和周三在立法者面前就货币政策作证。数据方面，亮点包括周四对美国第四季度国内生产总值数据的修正，以及每周初请失业金数据和1月份耐用品订单数据。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stock-market investors are already betting on an infrastructure spending spree<blockquote>美国股市投资者已经押注基础设施支出热潮</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stock-market investors are already betting on an infrastructure spending spree<blockquote>美国股市投资者已经押注基础设施支出热潮</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-22 13:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Potential tax hikes, inflation worries partly blunt potential upside from infrastructure spending</p><p><blockquote>潜在的增税和通胀担忧部分削弱了基础设施支出的潜在上行空间</blockquote></p><p> Investors are once again factoring in the prospect of a big round of long-term infrastructure spending even as U.S. lawmakers work toward a short-term round of relief that’s expected to come in near President Joe Biden’s $1.9 trillion price tag.</p><p><blockquote>尽管美国立法者正在努力制定一轮短期救助计划，预计将接近总统乔·拜登1.9万亿美元的价格，但投资者再次考虑到了一轮大规模长期基础设施支出的前景。</blockquote></p><p> Analysts have already started to “embed expectations” for infrastructure spending, as evidenced by a 25% surge in projected 2021 earnings for companies in the S&P 500 machinery sub-index since June, as opposed to an average rise or around 6% for companies the broader S&P 500 index, said Mark Hackett, chief of investment research at Nationwide, in an interview.</p><p><blockquote>分析师已经开始“嵌入对基础设施支出的预期”，自6月份以来，标普500机械分类指数中公司的预计2021年盈利飙升了25%，而该指数公司的平均涨幅约为6%。Nationwide投资研究主管Mark Hackett在接受采访时表示，更广泛的标普500指数。</blockquote></p><p> The machinery group, which along with the broader industrials sector is seen as a primary beneficiary of a boost in infrastructure spending, has rallied around 118% from its pandemic lows set last March, versus the S&P 500’s 78% rally. Industrials are up more than 86% from those lows, while materials stocks, which investors also expect to benefit, have bounced 95%.</p><p><blockquote>该机械集团与更广泛的工业部门一起被视为基础设施支出增加的主要受益者，该集团已较去年3月创下的大流行低点上涨约118%，而标普500则上涨了78%。工业股较低点上涨了86%以上，而投资者预计也将受益的材料股已反弹95%。</blockquote></p><p> No doubt, part of those gains are down to other pro-cyclical factors, including vaccine rollouts, falling COVID-19 cases, and two heavy load of near-term fiscal stimulus, Hackett said. At the same time, investors are also aware that infrastructure spending is quite likely to lead to tax increases which could blunt the upside for stocks.</p><p><blockquote>哈克特表示，毫无疑问，这些收益部分归功于其他顺周期因素，包括疫苗的推出、COVID-19病例的下降以及两项大量的近期财政刺激措施。与此同时，投资者也意识到基础设施支出很可能导致增税，这可能会削弱股市的上涨空间。</blockquote></p><p> U.S. Treasury Secretary Janet Yellen, in a Thursday interview with CNBC, saidtax increases on corporations and high-income individualswould be used to pay for part of Biden’s infrastructure plan. Yellen said there wasn’t yet a cost estimate for an infrastructure plan that’s still being put together.</p><p><blockquote>美国财政部长珍妮特·耶伦周四在接受CNBC采访时表示，对企业和高收入个人的增税将用于支付拜登基础设施计划的部分费用。耶伦表示，尚未对仍在制定的基础设施计划进行成本估算。</blockquote></p><p> Meanwhile, companies that already have a “green” or eco-friendly tilt may be poised to benefit most within the sectors and industries likely to reap the benefits of an infrastructure program, said Elizabeth Vermillion, equity analyst at CFRA, in an interview.</p><p><blockquote>与此同时，CFRA股票分析师伊丽莎白·弗米利恩(Elizabeth Vermillion)在接受采访时表示，已经倾向于“绿色”或环保的公司可能会在可能从基础设施计划中受益最多。</blockquote></p><p> That includes companies like construction-equipment giant Caterpillar Inc.,which offer a variety of battery electric and alternative-fuel equipment that could be favored as part of a Biden plan. Trucking companies could also benefit as they look to piggyback on the build out of infrastructure for electric vehicles.</p><p><blockquote>这包括建筑设备巨头卡特彼勒公司（Caterpillar Inc.）等公司，该公司提供各种电池电动和替代燃料设备，这些设备可能会成为拜登计划的一部分。卡车运输公司也可能受益，因为他们希望利用电动汽车基础设施的建设。</blockquote></p><p> Companies related to 5G mobile phone infrastructure may also benefit, she said. That includes not only carriers and the companies developing 5G technology, but also industrial companies that will be building towers, putting wires in the ground and building out the grid.</p><p><blockquote>她表示，与5G手机基础设施相关的公司也可能受益。这不仅包括运营商和开发5G技术的公司，还包括将建造铁塔、铺设电线和建设电网的工业公司。</blockquote></p><p> At the same time, investor enthusiasm may be curbed by memories of 2016, when optimism ran rampant for a big infrastructure push after Donald Trump’s election victory. Those efforts came to nothing, with “Infrastructure Week” eventually becoming a political punchline.</p><p><blockquote>与此同时，投资者的热情可能会受到2016年记忆的抑制，当时唐纳德·特朗普(Donald Trump)赢得大选后，人们对大规模基础设施建设的乐观情绪甚嚣尘上。这些努力都化为乌有，“基础设施周”最终成为政治笑柄。</blockquote></p><p> Plenty of skepticism remains.</p><p><blockquote>许多怀疑仍然存在。</blockquote></p><p> Part of the political appeal of a large-scale infrastructure package is it’s ability to put people back to work. But if the economy does pick up momentum as vaccine rollouts continue, the resulting fall in unemployment could serve to undercut enthusiasm for infrastructure spending, said Nicholas Colas, co-founder of DataTrek Research, in remarks at a Thursday online seminar hosted by Capital Institutional Services.</p><p><blockquote>大规模基础设施计划的部分政治吸引力在于它能够让人们重返工作岗位。但DataTrek Research联合创始人尼古拉斯·科拉斯(Nicholas Colas)周四在Capital Institutional Services主办的在线研讨会上发表讲话时表示，如果经济确实随着疫苗的继续推出而回升，由此导致的失业率下降可能会削弱基础设施支出的热情。</blockquote></p><p> Meanwhile, if a plan is enacted that includes corporate tax hikes that unwind a portion of the Trump cut from 35% to 21%, investors should expect to see the biggest headwinds for utilities and communications stocks, the two biggest beneficiaries of the tax reduction, Hackett said. The third biggest hit would be suffered by industrial companies, blunting some of the upside from the increased spending.</p><p><blockquote>与此同时，如果一项包括提高企业税的计划得以实施，将特朗普减税的一部分从35%降至21%，投资者应该会看到公用事业和通信股面临最大的阻力，这是减税的两个最大受益者，哈克特说。工业企业将遭受第三大打击，削弱支出增加带来的部分上行空间。</blockquote></p><p> It isn’t only stock-market investors that are starting to pencil in prospects for more spending on infrastructure, Hackett said. Rising inflation expectations, in part, also reflect that potential as does the related rise in U.S. Treasury debt yields.</p><p><blockquote>哈克特表示，不仅仅是股市投资者开始考虑增加基础设施支出的前景。通胀预期上升在一定程度上也反映了这种潜力，美国国债收益率的相关上升也是如此。</blockquote></p><p> Indeed, while economists at Bank of America said they remained skeptical of inflation prospects around the globe, they see the U.S. as an exception. Big rounds of fiscal spending already in the pipeline and perhaps to come, including up to $2 trillion in infrastructure spending over four years, remain an upside risk to the inflation outlook, wrote Ethan Harris and Aditya Bhave, in a Feb. 5 note.</p><p><blockquote>事实上，尽管美国银行的经济学家表示，他们仍然对全球通胀前景持怀疑态度，但他们认为美国是个例外。伊森·哈里斯(Ethan Harris)和阿迪亚·巴韦(Aditya Bhave)在2月5日的一份报告中写道，已经在酝酿中以及可能即将到来的大规模财政支出，包括四年内高达2万亿美元的基础设施支出，仍然对通胀前景构成上行风险。</blockquote></p><p> The past week saw stocks end mostly lower but not far off all-time highs, with the S&P 500 losing 0.7% and the tech-heavy Nasdaq Composite down 1.6%. The Dow Jones Industrial Average eked out a 0.1% weekly gain.</p><p><blockquote>过去一周，股市大多走低，但距离历史高点不远，标普500下跌0.7%，以科技股为主的纳斯达克综合指数下跌1.6%。道琼斯工业平均指数周涨幅为0.1%。</blockquote></p><p> The week ahead will be closely watched for developments on Biden’s $1.9 trillion relief spending plan.</p><p><blockquote>未来一周将密切关注拜登1.9万亿美元救助支出计划的进展。</blockquote></p><p></p><p> Federal Reserve Chairman Jerome Powell will testify in front of lawmakers about monetary policy Tuesday and Wednesday. On the data front, the highlights include a revision of U.S. fourth-quarter gross domestic product data on Thursday, along with weekly figures on unemployment benefit claims and a reading on January durable-goods orders.</p><p><blockquote>美联储主席鲍威尔将于周二和周三在立法者面前就货币政策作证。数据方面，亮点包括周四对美国第四季度国内生产总值数据的修正，以及每周初请失业金数据和1月份耐用品订单数据。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/u-s-stock-market-investors-are-already-betting-on-an-infrastructure-spending-spree-11613773663?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/u-s-stock-market-investors-are-already-betting-on-an-infrastructure-spending-spree-11613773663?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1124857901","content_text":"Potential tax hikes, inflation worries partly blunt potential upside from infrastructure spending\nInvestors are once again factoring in the prospect of a big round of long-term infrastructure spending even as U.S. lawmakers work toward a short-term round of relief that’s expected to come in near President Joe Biden’s $1.9 trillion price tag.\nAnalysts have already started to “embed expectations” for infrastructure spending, as evidenced by a 25% surge in projected 2021 earnings for companies in the S&P 500 machinery sub-index since June, as opposed to an average rise or around 6% for companies the broader S&P 500 index, said Mark Hackett, chief of investment research at Nationwide, in an interview.\nThe machinery group, which along with the broader industrials sector is seen as a primary beneficiary of a boost in infrastructure spending, has rallied around 118% from its pandemic lows set last March, versus the S&P 500’s 78% rally. Industrials are up more than 86% from those lows, while materials stocks, which investors also expect to benefit, have bounced 95%.\nNo doubt, part of those gains are down to other pro-cyclical factors, including vaccine rollouts, falling COVID-19 cases, and two heavy load of near-term fiscal stimulus, Hackett said. At the same time, investors are also aware that infrastructure spending is quite likely to lead to tax increases which could blunt the upside for stocks.\nU.S. Treasury Secretary Janet Yellen, in a Thursday interview with CNBC, saidtax increases on corporations and high-income individualswould be used to pay for part of Biden’s infrastructure plan. Yellen said there wasn’t yet a cost estimate for an infrastructure plan that’s still being put together.\nMeanwhile, companies that already have a “green” or eco-friendly tilt may be poised to benefit most within the sectors and industries likely to reap the benefits of an infrastructure program, said Elizabeth Vermillion, equity analyst at CFRA, in an interview.\nThat includes companies like construction-equipment giant Caterpillar Inc.,which offer a variety of battery electric and alternative-fuel equipment that could be favored as part of a Biden plan. Trucking companies could also benefit as they look to piggyback on the build out of infrastructure for electric vehicles.\nCompanies related to 5G mobile phone infrastructure may also benefit, she said. That includes not only carriers and the companies developing 5G technology, but also industrial companies that will be building towers, putting wires in the ground and building out the grid.\nAt the same time, investor enthusiasm may be curbed by memories of 2016, when optimism ran rampant for a big infrastructure push after Donald Trump’s election victory. Those efforts came to nothing, with “Infrastructure Week” eventually becoming a political punchline.\nPlenty of skepticism remains.\nPart of the political appeal of a large-scale infrastructure package is it’s ability to put people back to work. But if the economy does pick up momentum as vaccine rollouts continue, the resulting fall in unemployment could serve to undercut enthusiasm for infrastructure spending, said Nicholas Colas, co-founder of DataTrek Research, in remarks at a Thursday online seminar hosted by Capital Institutional Services.\nMeanwhile, if a plan is enacted that includes corporate tax hikes that unwind a portion of the Trump cut from 35% to 21%, investors should expect to see the biggest headwinds for utilities and communications stocks, the two biggest beneficiaries of the tax reduction, Hackett said. The third biggest hit would be suffered by industrial companies, blunting some of the upside from the increased spending.\nIt isn’t only stock-market investors that are starting to pencil in prospects for more spending on infrastructure, Hackett said. Rising inflation expectations, in part, also reflect that potential as does the related rise in U.S. Treasury debt yields.\nIndeed, while economists at Bank of America said they remained skeptical of inflation prospects around the globe, they see the U.S. as an exception. Big rounds of fiscal spending already in the pipeline and perhaps to come, including up to $2 trillion in infrastructure spending over four years, remain an upside risk to the inflation outlook, wrote Ethan Harris and Aditya Bhave, in a Feb. 5 note.\nThe past week saw stocks end mostly lower but not far off all-time highs, with the S&P 500 losing 0.7% and the tech-heavy Nasdaq Composite down 1.6%. The Dow Jones Industrial Average eked out a 0.1% weekly gain.\nThe week ahead will be closely watched for developments on Biden’s $1.9 trillion relief spending plan.\nFederal Reserve Chairman Jerome Powell will testify in front of lawmakers about monetary policy Tuesday and Wednesday. On the data front, the highlights include a revision of U.S. fourth-quarter gross domestic product data on Thursday, along with weekly figures on unemployment benefit claims and a reading on January durable-goods orders.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2452,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/360799971"}
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