US stocks soared to a new high. Thanks to the implementation of Biden’s infrastructure package

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The start of a new trading week on the New York Stock Exchange was marked by the positive impact of approving the infrastructure package from the workshop of President Joe Biden’s administration. The indices even stopped the decline in Tesla shares.

The New York Stock Exchange’s Dow Jones Industrial Average rose to a new all-time high just above Monday’s opening, beating 36,500 points. In the further course of trading, it lost slightly, but still remained about 0.15 percent above Friday’s closing level. Other important indices, such as the S&P 500 and the Nasdaq, also recorded a positive development.

The approval of the infrastructure package from the workshop of the US President Joe Biden is behind the good mood of the investors. It envisages investments of around one trillion crowns in the green transformation of the American economy, including the construction of infrastructure for the operation of electric cars and the strengthening of renewable energy sources.

US stocks have even withstood the pressure of Tesla‘s share price to fall. Investors reacted on Monday to the result of the weekend “referendum” announced by Elon Musk on Twitter. Users voted whether Musk should sell a tenth of its stake in Tesla and gave its intention to the green light.


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