Market Coverage: Friday June 25th 2021 Yahoo Finance

Stock futures rose Friday morning to add to gains from a record-setting session, with traders hoping that a bipartisan infrastructure deal would help further stoke economic activity. Contracts on the S&P 500 and Nasdaq gained after both indexes set record intraday and closing highs during the regular trading day on Thursday. Dow component Nike (NKE) jumped 12.5% in early trading after posting quarterly sales growth that rebounding across all major regions. Meanwhile, FedEx (FDX) shares sank after even estimates-topping fiscal fourth-quarter results failed to wow Wall Street. The Dow was on track to outperform for another session following President Joe Biden’s announcement that he had reached an infrastructure agreement with a bipartisan group of senators. This helped catalyze a jump in cyclical shares including industrials and financials, with traders eying the additional federal spending on physical infrastructure and other initiatives. The deal would include about $600 billion in new federal spending on investments for new roads, clean energy and other projects, and cost nearly $1 trillion in total over the next five years. It would be funded via provisions including stronger tax collections enforcements for the wealthy, and wireless spectrum auctions and strategic petroleum reserve sales…..
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