A Skanska AB construction worker guides a crane carrying lumber as a concrete boom pours concrete on the Sixth Street Viaduct replacement project in Los Angeles, California, U.S. on Tuesday, April 6, 2021.
Bing Guan | Bloomberg | Getty Images
President Joe Biden’s ambitious infrastructure package could spell big upside for a handful of exchange-traded funds with exposure to the semiconductor, health care and industrials sectors, Bank of America told its clients.
ETF strategist Jared Woodard wrote that the end of the Covid-19 pandemic and Biden’s $2 trillion infrastructure plan are expected to spark a “boom” in capital expenditures as companies build new factories and plants in the U.S.
That, in turn, will benefit a host of sectors involved in the construction of roads and bridges, the expansion of broadband access and the manufacturing of electric vehicles, Woodard added.