Major engineering stocks Jacobs Engineering Group (J) and Fluor (FLR) traded flat to reduced early Friday as investors digested their March-quarter reviews. Jacobs earnings, documented late Thursday, defeat estimates. Flour shipped blended final results Friday morning.
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The stories give some early visibility into weighty builders gearing up to get on tasks funded by the Biden administration’s $1.2 trillion infrastructure invoice. Refinery construction is also set to boom as need for oil picks up. The infrastructure invoice features $110 billion in new funding to maintenance streets and bridges. It also invests $17 billion to enhance port infrastructure and waterways, and $25 billion in airport fixes and updates.
It earmarks a lot more than $65 billion to up grade the nation’s electrical power infrastructure. In addition, the laws invests around $50 billion to make communities safer and infrastructure much more resilient to the impacts of local weather