New York: Global stocks mostly rose Tuesday along with oil prices and the dollar, as markets cheered US Senate passage of a US$1.2 trillion infrastructure package while keeping an eye on latest COVID-19 trends.
But investors took bets Tuesday on companies expected to garner a share of the business from the push to upgrade America's roads, bridges and broadband. This includes industrial giant Caterpillar as well as metals producers US Steel and Alcoa.Earlier, equity markets in London, Paris and Frankfurt finished modestly higher.
That has led some observers to re-evaluate the outlook for growth, weighing on oil prices the last two days. Meanwhile, the dollar rose to its highest level against the euro since late March. The gain come on the heels of Friday's strong US jobs report, which was followed by comments from several Federal Reserve officials suggesting the US central bank could soon wind down its massive stimulus program.