By Dhirendra Tripathi
Investing.com — Optimism about the economy lifted the near a new record high with a half-hour of trading left in the session, boosting shares of companies that stand to benefit from $1 trillion of federal investment in building and energy projects.
The infrastructure bill, which headed to President Joe Biden’s desk for signature, will boost shares of industrial, material and other sectors.
Shares of Tesla Inc (NASDAQ:) fell after CEO Elon Musk’s weekend Twitter (NYSE:) poll asking followers if he should sell 10% of his holdings. Followers voted yes by 58% to 42%.
Airline and other travel stocks rose because Monday was the day the U.S. opened its borders to air travelers from abroad, subject to certain rules about vaccination and testing.
And chip stocks got a lift. Advanced Micro Devices Inc (NASDAQ:) rose nearly 10% after Facebook-parent Meta chose it as the supplier of data center chips.
Congress is expected to take up the remaining $1.85 trillion social spending and climate change bill next week, aiming for a vote before the end of the month. Lawmakers have a rush of items to clear off the calendar before the end of the year, including the return of the debt ceiling debate early next month.
Here are three things that could affect markets tomorrow:
1. Nio earnings
Nio Inc Class A ADR (NYSE:) is expected to report a loss per share of 34 cents in the third quarter on revenue of $9.24 billion, according to analysts tracked by Investing.com.
2. Coinbase earnings
Coinbase Global Inc (NASDAQ:) is seen reporting a third-quarter profit per share of $1.73 and revenue of $1.57 billion.
3. BioNTech earnings
BioNTech SE (NASDAQ:)’s third-quarter revenue is seen at $5.1 billion and profit per share at $10.54.
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