The wheels seem to be turning in Washington. Vice President Joe Biden recently announced that more than half of economic stimulus money set aside for highway projects has already been allocated.  In more detail, he stated that $19 billion has been set aside for 5,300 transportation projects.  The news sent the iShares S&P Global Infrastructure Index (IGF) up nearly 2% in morning trading.

Overall, all three major indices are up in morning trading.  The Dow Jones Industrial Average is up 1.8%, the S&P 500 is up 1.8% and the Nasdaq gained nearly 1.6%.

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Kevin Grewal contributed to this article.