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Wall Street Opens Higher on Infrastructure Bill, Dovish Clarida; Dow up 140 Pts -Breaking

by Mike Robinson

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© Reuters.

Geoffrey Smith 

Investing.com – The U.S. stock exchanges opened higher Monday thanks to Friday’s passage of the Democrats infrastructure spending bill and new assurances that interest rates will not rise for another year. 

At 9:45 am ET (1445 GMT), it was at 36,471 point, up 143 points or 0.4%. It was 0.2% higher than the 0.2%. 

Richard Clarida was the Federal Reserve’s outgoing vice chair. He stated that the benchmarks needed to increase interest rates will not be met until 2022. James Bullard of the St. Louis Fed, however, stated that two rate rises would be needed next year. Clarida has a greater influence than most people believe on Fed policy, however his term ends at the end January 2019.

The stock fell 4.4% early in trading. Elon Musk, Tesla’s chief executive, indicated that he intends to sell about $20 billion worth of stock to help pay for a growing tax bill. 

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