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The
U.S. Senate has set a vote on passage of the $1 trillion
bipartisan infrastructure bill for 11 a.m. ET (1500 GMT), after
which it would immediately begin to debate $3.5 trillion in
additional investments.
With new coronavirus cases rising steadily in the United States,
progress on the infrastructure package is expected to help gauge
fiscal support for the next leg of recovery in the world's
largest economy.
Nationwide, COVID-19 cases have averaged 100,000 for three days
in a row, up 35% over the past week, according to a Reuters
tally of public health data.
Focus is also on inflation numbers due on Wednesday for hints
about the path of Federal Reserve policy, after two Fed
officials said on Monday that inflation was already at a level
that could satisfy one leg of a key test for the beginning of
rate hikes.
The S&P 500 and the Dow closed lower on Monday, weighed down by
a fall in oil stocks and concerns over a sooner-than-expected
taper tantrum.
But rising U.S. Treasury yields lifted financial shares, keeping
Wall Street's benchmark indexes near record highs. [US/]
At 6:41 a.m. ET, Dow e-minis were down 16 points, or 0.05%, S&P
500 e-minis were down 0.25 points, or 0.01%, and Nasdaq 100
e-minis were up 18 points, or 0.12%.
Energy firms Halliburton Co, ExxonMobil Corp, Chevron Corp,
Diamondback Energy Inc and Marathon Oil Corp gained between 0.4%
and 1.9%, tracking a recovery in oil prices from a three-week
low. [O/R]
AMC Entertainment jumped 8.3% after beating second-quarter
revenue estimates as moviegoers returned to its theaters after a
year of closures and restrictions.
(Reporting by Devik Jain in Bengaluru; Editing by Aditya Soni)
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