CVS – Live Updates: Bipartisan Infrastructure Deal Could Pass This Week, Senators Say
Here’s what you need to know to navigate the markets today.
• U.S. stocks are set to open Monday slightly up. On Sunday night, Dow Jones Industrial Average futures had gained 90 points, or 0.26%, while the S&P 500 futures gained 0.27% and Nasdaq Composite futures gained 0.23%. This week’s earnings include: Ferrari,
Vornado Realty Trust,
Simon Property Group
Eli Lilly and ConocoPhillips on Tuesday;
General Motors ,
Kraft Heinz and SoftBank on Wednesday;
Wayfair, Moderna, Bayer, and
on Thursday; and
Canopy Growth and and Tripadvisor on Friday. Notable economic events this week include: On Monday, the Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July, and the Census Bureau reports construction spending for June. On Wednesday, the ISM reports its Services PMI for July. On Friday, the Bureau of Labor Statistics releases July’s jobs report and unemployment rate.
• Sen. Susan Collins and Sen. Joe Manchin said the text of the proposed $1 trillion bipartisan infrastructure bill could be released as soon as Sunday. Collins (R. Maine), one of the negotiators of the agreement, told Fintech Zoom’s “State of the Union” on Sunday that the language of the bill would be finalized and some amendments considered on Sunday. She said she hoped and expected that the bill would be finished by the end of the week. Fintech Zoom’s Jake Tapper asked Collins about threats by former President Donald Trump to help defeat the Republican senators who support the infrastructure deal in upcoming primaries, and whether that would scare some Republicans from supporting the bill, Collins said: “President Trump proposed an infrastructure package of, I think, $1.5 trillion. So, he too at one point recognized the need for investment in infrastructure.”
Later on the same show, Manchin (D., W.Va.) told Fintech Zoom: “I think you will see text today,” with amendments starting as early as Monday. “We should finish up by Thursday, I hope,” Manchin added. Both Collins and Manchin said they expect the bill to receive enough votes to pass in the Senate. “When you talk about roads and bridges and rails and train and everything that goes with it, and Internet services, it’s something that every state, every area of every state needs. So, this is something you should be getting 80 or 90 votes on,” Manchin said.
• Dr. Anthony Fauci on Sunday warned that “things will get worse” as the Delta variant of coronavirus continues to surge, he told ABC’s “This Week.” The nation’s top infectious disease expert pointed to the acceleration in the seven-day average of Covid-19 cases. “We say it over and over again, and it’s the truth–we have 100 million people in this country who are eligible to be vaccinated who are not getting vaccinated. We are seeing an outbreak of the unvaccinated,” he added. “The unvaccinated, by not being vaccinated, are allowing the propagation and the spread of the outbreak which ultimately impacts everybody.” A study out of Provincetown, Mass., last week found that fully vaccinated people, even without severe illness or symptoms, can still carry enough virus to spread the Delta variant. That research prompted the Centers for Disease Control and Prevention to recommend that vaccinated people resume wearing masks indoors in areas of high or substantial spread of the virus. “You want them to wear a mask, so that if in fact they do get infected, they don’t spread it to vulnerable people, perhaps in their own household, children or people with underlying conditions,” Fauci said Sunday.
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