US Pres. Biden to call for roughly $2 trillion in job and infrastructure spending

Ahead of the much-awaited infrastructure spending plan of US President Joe Biden, up for publishing around 16:20, Reuters came out with the news relying on the sources, which suggests a $2.0 trillion figure for the package. Further details suggest the plan will include spending over eight years.

Politico also contributed towards the issue while saying, “President Joe Biden will not call for a wealth tax to help pay for his multitrillion-dollar Build Back Better initiative, according to multiple people familiar with the White House’s thinking.”

FX implications

Given the positive headlines US stimulus, S&P 500 Futures part ways from the Wall Street benchmarks while printing mild gains around 3,950 by the press time of Wednesday’s Asian session.

Read: Wall Street Close: Stocks subdued ahead of key risk events later in the week