By Christiana Sciaudone
Investing.com -- Markets really liked Joe Biden's new infrastructure deal. Stocks were higher this otherwise slow Thursday.
Not everyone was thrilled, though, as the deal failed to include more ambitious initiatives like spending to expand child care.
Cyclical areas of the market, which benefit from stronger economic growth, added to gains with financials leading to the upside. Financials were also helped by a jump in banking stocks ahead of the Federal Reserve's stress test results due later Thursday that could pave the way for a massive wave of capital return to shareholders.
We'll get some top earnings this afternoon, and the Fed's spokespeople continue to make the rounds.
Tomorrow's the last Friday in June, for whatever that's worth.
Here are three things that could affect markets tomorrow:
1. Shipping and shoes
Keep an eye on FedEx (NYSE:FDX) and Nike (NYSE:NKE) on Friday for reactions to their post-market results today. Analysts expect FedEx to post an impressive 24% gain in revenue on the strength of strong demand. Nike's performance in China will be closely watched as it faces a boycott for its stance on sourcing products from the Xinjiang region.
2. Fedspeak
A busy week for Fedspeak comes to a close. Cleveland President Loretta Mester and Boston's Eric Rosengren are both slated to take part in events. Jerome Powell and Raphael Bostic both moved markets with their closely-watched comments earlier in the week.
3. Blockbuster
Theater operators and movie fans alike have reason to rejoice as the first major summer blockbuster since pre-pandemic times hits. Comcast Corp (NASDAQ:CMCSA)s Universal Pictures "F9" debuts. It's the latest installment of the over the top Fast and Furious series. Grab some popcorn.