Stocks push for record high on $6 trillion U.S. spending hopes

Charging stocks markets were on track for a seventh day- and fourth straight month of gains on Friday, as investors bet the United States will lead the world economy out of its COVID-19 slump with a $6 trillion spending boom. U.S. stocks were poised for further gains after reports President Joe Biden will seek $6 trillion in federal spending for the 2022 fiscal year in budget proposals later. The results of a Reuters poll of around 300 analysts this week showed most see world stocks continuing to rise this year on robust economic and earnings recoveries, although any serious quickening of inflation would temper enthusiasm.