Infrastructure Week, Jobless Claims, Oil: 3 Things to Watch By Investing.com – Investing.com

Infrastructure Week, Jobless Claims, Oil: 3 Things to Watch By Investing.com – Investing.com

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By Liz Moyer

Investing.com -- Tech stocks were back in play on Wednesday, shrugging off concerns about rising interest rates as the government prepares to flood the market with a fresh round of spending, this time on infrastructure.

The is close to piercing the historic 4,000 mark, and Nasdaq surged. 

Economic data supports the reopening trade and fuels investor optimism, which is showing up across the market. The economy created 515,000 private jobs last month, which was shy of the 550,000 expected but a positive sign as the government prepares to release its nonfarm jobs report on Friday.

Microsoft Corporation (NASDAQ:) announced a $22 billion contract with the U.S. Army. Pfizer Inc (NYSE:) said its vaccine with BioNTech SE (NASDAQ:) was effective in children aged 12 to 15, clearing the way for it to ask the government to allow Covid shots for that age cohort before the beginning of school in the fall. 

The U.S. stock market is closed on Friday,