US futures inched closer to record highs on the last trading day of the week, driven by optimism on the proposed $1-trillion infrastructure package.
- S&P 500 futures climbed 0.05%, while Nasdaq 100 futures gained 0.04% after both indices marked historical highs on Thursday. Dow Jones futures grew 0.26%. Overseas indices CSI 300 and Nikkei 225 posted gains, while the Soxx 500 slipped.
- President Joe Biden said a deal was firmed up with Republican lawmakers on the $1-trillion infrastructure package, which would oversee spending in the next eight years. It includes $579 billion in new spending and prioritizes roads, bridges, and rail networks.
- The deal on the infrastructure package will likely drive energy demand, which caused oil prices to climb. Brent crude rose 0.36% to $75.82 a barrel, while the West Texas Intermediate grew 0.27% to $73.50.
Biden on Thursday called on lawmakers to pass the bill, noting the urgency of the measure.
Source: Business Insider