Infrastructure Week Forever — The need for improved American infrastructure has been discussed for decades, seemingly about as long as it took for the highly anticipated “bipartisan infrastructure bill” to pass through Congress. Officially titled the Infrastructure and Investment Jobs Act, colloquially referred to as “BIF”, and sometimes called “stupid and irresponsible” - whatever you want to call it - the passage of this bill through Congress means it will soon become law.

As a reminder, the total price tag for BIF comes in at $1.2tn, but does anyone remember what’s actually in it? I don’t, so let’s recap:

$150bn for roads, bridges, rail, public transit and other kinds of “traditional” infrastructure projects. According to the White House, this part of the bill alone is the largest investment in the interstate highway system since it began in the 1950s. Moreover, everyone in the country is all too aware of how sh*tty Amtrak and other rail systems are, so Biden is tossing them a quick $39bn to be able to manage and satisfy rider demand. Or, at least, to be less complete trash.

$65bn for improving American internet connection through broadband expansion. The bill requires internet service providers to offer low-cost options and will spur competition in underserved markets. Also notable, the White House included a permanent federal plan to ensure internet access for low-income households going forward. 

$65bn to rebuild, revamp, and expand the national power grid. 

$55bn to upgrade U.S. water infrastructure, with much focus around replacing currently existing lead pipe water delivery systems. Think about that - it’s 2021 and the world’s richest economy is still far too commonly drinking lead-laced water.

$25bn for airport improvement, $21bn in environmental cleanup, $17bn for other port upgrades, and $15bn to ready the nation for the EV age of the future. Phew, that’s a lotta cabbage.

Advanced Micro Devices ($AMD) — Despite Meta ruining most things it touches, Zuck & Co actually helped someone. That lucky someone just happened to be AMD. Shares in the chip maker popped 10.1% yesterday as Meta called upon them to provide the semiconductors that will power the metaverse. So when you buy jpeg Nike shoes on Meta Marketplace for your NFT avatar, you can thank AMD.  

Coty Inc ($COTY) — Beauty supply company Coty reported earnings yesterday that came much to the satisfaction of investors, sending shares up on a 14.9% ride. The owner of brands like Kylie Jenner Cosmetics drove revenues to nearly $1.4bn for the quarter, exceeding expectations. The beauty firm may be able to beat on earnings, but I still highly doubt there’s anything they can do for you, unless you’re an investor, of course.

Tesla ($TSLA) — After Tesla fell 4.9% yesterday, I can’t stop worrying that Elon might need some financial assistance. This guy literally let Twitter decide that he should sell 10% of his ownership in the firm, partly to get the haters to chill about his tax bill and (probably) partly because the stock has run up so damn high. Remember, this man tweeted way back in May 2020 that “Tesla stock price is too high imo”, but sure, keep calling him a man of the people.

Nike ($NKE) — Apparently yesterday was just national beat up on Nike day. With little, if any, news on the day, shares in the shoe and apparel maker plunged 3.2%, giving them the crown of worst performer in the Dow for the day. Even with little news, several bullish reports on the firm were released, including from Goldman, leaving us to believe it was just one of those days.