Infrastructure bill could fuel stocks, but investors temper enthusiasm

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A U.S. government plan to upgrade the nation's infrastructure could further fuel the stock market's rally, but skepticism about a massive spending ...

NEW YORK -A U.S. government plan to upgrade the nation's infrastructure could further fuel the stock market's rally, but skepticism about a massive spending package navigating political obstacles and the speed of any benefits filtering into the economy stand to temper any enthusiasm.

“If we get a sizable package through, it would contribute further to the already positive economic rebound that we are seeing and the belief that stronger fiscal support for the economy could continue in the coming years,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors. Marshall sees more opportunity in companies that would benefit from a build-out of infrastructure for electric vehicles like charging stations. Among the companies in his portfolio is Cree Inc, which makes silicon substrates used at charging stations.

"What could be an issue for markets ... is if tax rates increase meaningfully for corporations," said Sameer Samana, senior global market strategist at the Wells Fargo Investment Institute.

 

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