Five stocks the Trump infrastructure plan could boost

By IndustrialsFOXBusiness

President Trump's infrastructure plan, which is set to be unveiled Monday, could boost the share price of U.S. companies that build roads, bridges, railways and tunnels.

Caterpillar (NYSE:CAT) rose Monday in premarket trading as President Donald Trump prepared to announce his $1.5 trillion plan to improve U.S infrastructure.

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The plan would deploy $200 billion in federal spending with the balance financed by state and local governments as well as the private sector. The president is preparing to announce his infrastructure plan amid concern that government spending will widen the budget deficit and push bond yields higher.

Shares of the construction equipment company Caterpillar gained 1.9% to $152 in premarket trading. The stock has climbed more than 50% in the past year.

“It is the undisputed global leader in construction machinery and has the broadest product portfolio among peers,” The Motley Fool said in a December 2017 report.

Steel companies Nucor (NYSE:NUE) and United States Steel (NYSE:X) also gained in Monday’s premarket trading, climbing 3.1% to $63.69 and 2.7% to $35.15, respectively.

Other companies to watch as Trump announces his infrastructure plan are engineering giant AECOM (NYSE:ACM) and cement suppliers Vulcan Materials (NYSE:VMC) and Mexico’s Cemex (NYSE:CX).

FOX Business Senior Editor Charles Brady contributed to this report.

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