US Senate Democratic Leader Chuck Schumer said on Tuesday that Democrats are continuing to make progress on US President Joe Biden's economic plan, as reported by Reuters.

"I remain confident a deal is within reach on the large domestic investment bill," Schumer added.

Market reaction

Risk flows continue to dominate the financial markets following these comments. As of writing, the S&P 500 and the Dow Jones Industrial Average indexes were trading at new record highs, rising 0.6% and 0.4% on a daily basis, respectively.