Futures Tick Higher After Congress Clears Infrastructure Bill; Tesla Falls

U.S. stock index futures edged higher on Monday as big industrial firms were supported by the passage of a $1 trillion infrastructure bill, while Tesla fell on Chief Executive Elon Musk’s plan to sell about a tenth of his stake. Caterpillar Inc., Boeing Co., and 3M Co. rose between 0.5 percent and 3 percent in premarket trading after Congress passed a long-delayed infrastructure bill. Steel and aluminum producers also gained, with Nucor Corp. up 2.6 percent and United States Steel Corp. adding 4.9 percent. “The news that Joe Biden is on the cusp of signing off a $1 trillion infrastructure package does provide a boost for industrial names that have largely enjoyed a strong third quarter in any case,” Joshua Mahony, senior market analyst at IG, said in a client note. Most mega-cap technology and communications companies were trading higher, with the exception of Tesla Inc. which fell 5.3 percent …

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