Stocks rose early Thursday morning after President Joe Biden unveiled more details about his proposed infrastructure plan.
Futures on the
were up 30 points, or 0.1%. The
was indicated to open 0.4% higher. The
was indicated to open up 1%.
The White House’s $2 trillion infrastructure proposal would pay for better highways and transportation, among other areas. It would also include $50 billion for research and advancements for the semiconductor industry.
Here were some notable stock movers on Thursday morning:
stock (ticker: QCOM) shares rose 1.5%; the chip maker could benefit from the proposed infrastructure spending.
(MU) and
(WDC) shares rose 4.6% and 4%, respectively, as the companies are reportedly exploring a deal to buy Japanese chip maker Kioxia Holdings for $30 billion.
(MSFT) shares rose more than 1% as the company has struck a deal with the U.S. Army to sell up to $22 billion worth of HoloLens, an augmented reality product.
(QS) shares are up 16% as the company will receive a $100 million investment from
(VOW.Germany).
Write to Jacob Sonenshine at jacob.sonenshine@barrons.com
