Caterpillar (NYSE:CAT) rose Monday as President Donald Trump prepared to announce his $1.5 trillion plan to improve U.S. infrastructure.
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.
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Shares were higher, adding to gains even after the stock has climbed more than 50% in the past year.
The steel companies Nucor (NYSE:NUE) and United States Steel (NYSE:X) also gained.
Other companies to watch as Trump prepares to announce his infrastructure plan are engineering giant AECOM (NYSE:ACM) and cement suppliers Vulcan Materials (NYSE:VMC) and Mexico’s Cemex.
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