Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
Joe Biden’s announcement of a bipartisan agreement on a $953bn infrastructure plan – billed as the largest investment in public transit in American history – has boosted stock markets in the US and Asia. On Wall Street, the S&P 500 and the Nasdaq closed at new record highs of 4,266 and 14,369 respectively.
In Asia, Japan’s Nikkei rose 0.66% while Hong Kong’s Hang Seng climbed 1.4% and the Australian stock market added 0.5%.
Michael Hewson, chief market analyst at CMC Markets UK, says:
Last night’s gains [on Wall Street] were helped…