TSM - Infrastructure Week Winners
Stocks rallied the second half of the week after President Biden’s infrastructure plan announcement. The ‘rotation to value’ from tech appeared to reverse, with the Nasdaq (COMP) gaining 2.4% during the holiday-shortened week. The S&P 500 broached the 4,000 level for the first time ever and gained about 0.9%. Dow Industrials (DJI) booked a small gain and small caps rode tech shares higher, with the Russell 2000 up about 1.8%. Winners & Losers The infrastructure bill drove many winners, KLA Corp (KLAC) and Applied Materials (AMAT) rallied by 11% and 10%, respectively. Semiconductors gained on the $50 billion investment earmarked by Biden’s infrastructure bill, with Nvidia (NVDA) adding 6%. Micron (MU) beat earnings and saw its shares rise 6% as well. Tesla (TSLA) was the best-performing stock in the S&P 500, gaining 6% week-over-week. Green energy companies, another potential beneficiary of the infrastructure plan, were another winner. The iShares SP
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Infrastructure Week Winners