Industrial and construction stocks are climbing Wednesday, after Donald Trump’s victory in the US presidential election.
The boost is partly due to Trump’s commitment to a massive increase in infrastructure spending. At the end of October, he unveiled plans to spend $1 trillion on road, bridges and a variety of other infrastructure projects over 10 years if he is elected.
Infrastructure spending is something that Democrats have also proposed, and House Minority Leader Nancy Pelosi
said she expects “we can work together to quickly pass a robust infrastructure jobs bill.”
Here are some of the biggest gainers among industrial stocks, of about 1:27 pm ET Wednesday:
- Lockheed Martin was up about 6.77%
- Union Pacific Corp was up about 3.5%
- Jacobs Engineering was up about 9.38%
- Tutor Perini was up about 11.8%
- Fluor was up about 9.3%
“We think there will be some excitement in the coming weeks about some additional infrastructure spending, an area where there appears to be some political common ground,” Morgan Stanley’s US Equity Strategy team led by Adam Parker wrote to clients on Wednesday.
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