Markets looked anemic to start the week Monday morning as the Nasdaq gapped down about 130 points to open trading.
Market fears are creeping in again, touching off a nasty sell-off as traders shift their attention from Beijing to Washington D.C.
I hate politics, but sadly these jokers impact the outlook for both Wall Street and Main Street.
Legislation for two key economic issues are set to make it to the floor this week, and a third major issue lurks in the background…
So let’s hold our noses and dive into this muck for a better understanding of what we can expect in the days ahead, and the top infrastructures stocks hitting the tape right now.
Top Infrastructure Stocks Seeing Order Flow
First on the docket, the Senate will vote late Monday on a temporary spending bill. If passed, the bill would fund the government through November.
If the bill fails, then Congress will have until midnight Thursday to find something that works to prevent a shutdown of federal services.
You’ll probably hear a lot of talk about the debt ceiling attached to the funding bill, but it most likely will go through without addressing it at this time.
All of that is holding up the vote on the $1 trillion infrastructure package until Thursday, which means traders still have an opportunity to jump in on the top stocks seeing massive order flow.
If you’re looking for potential plays, top infrastructure stocks like Tesla Inc. (Nasdaq: TSLA), Plug Power Inc. (Nasdaq: PLUG) and QuantumScape Corporation (NYSE: QS) all saw large repeat institutional buying over the past several days, with other green energy, battery and EV names catching bids as well.
Big Events Outside the Beltway
In other market catalysts on the calendar outside of the headlines, we have Micron Technology Inc. (Nasdaq: MU) reporting earnings after the market closes Tuesday. Of course, any time we have earnings, a big move from one company can affect other tickers in the sector, so keep your eyes on activity in rival names like Advanced Micro Devices Inc. (Nasdaq: AMD) as well.
We also have the Consumer Confidence Index reporting its findings for September on Tuesday. This report has a tendency to move retail names, and things are expected to slow down compared to August.
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