U.S. stocks powered mostly higher Wednesday after President Joe Biden unveiled a $2.3-trillion infrastructure spending plan. The Dow Jones Industrial Average
DJIA,
-0.26%
dropped about 82 points, 0.3%, to end near 32,985, while the S&P 500
SPX,
+0.36%
added about 15 points, 0.4%, to close near 3,973. The Nasdaq Composite index
COMP,
+1.54%
closed near 13,247, up 201 points or 1.5%. Investors have priced in heftier fiscal spending, faster economic growth, and hotter inflation from the White House proposals, and that’s rattled markets over the past few weeks. On Wednesday, the yield on the benchmark 10-year U.S. Treasury note retreated slightly, however, and corporate earnings remained strong: shares of Walgreens Boots Alliance Inc.
WBA,
+3.62%
rallied after the pharmacy company delivered results that beat expectations raised its guidance.
