Recent fund flows reveal investing firms moving capital toward large-cap industrials after ISM data pointed to manufacturing expansion. Caterpillar and Deere shares gained over 3% on solid demand forecasts tied to infrastructure spending. In a statement Friday, DOT spokesperson Nathaniel Sizemore said the Biden administration had added requirements to NEVI that were “difficult to understand and implement,” and that the huge amount of money that remained unobligated when the former president left office was "a clear signal of the program’s failure." “Each time a brokerage joins us, we become smarter and stronger. Some of the best adjustments we have made as a company have come from our agents and brokers, many of whom joined because of mergers and acquisitions or network affiliations. Yes, we have an abundance of riches to bring to their organization, but we don’t hold a monopoly on knowledge about how to run their company. We simply don’t have a mindset that we are smarter than them about running the company that they built,” Haase says, explaining that this is a very different mindset than most acquisitive real estate firms. In the wake of strong US retail sales, investing firms boosted holdings in consumer discretionary stocks. Amazon and Nike both reported better-than-expected forward guidance, with portfolio managers eyeing rising consumer confidence as a tailwind.