Joe Biden address to Congress is promoting a $1.8 trillion spending package

President Joe Biden is marking his 100th day in office with a prime-time address to Congress is using his nationally televised speech to promote a $1.8 trillion spending package.

If Congress approves the plan, it would provide universal preschool, two years of free community college, $225 billion for child care and monthly payments of at least $250 to parents.

The president is also presenting a vision for post-pandemic life nationwide.

the markets are already risk-on following today's Federal Reserve interest rate meeting whereby the statement was a little more bullish, noting "progress on vaccinations and strong policy support" have supported employment.

However, an early taper is off the table which is helping to key risk assets supported. 

The S&P 500 briefly rose to an intra-day record high after Fed Chair Jerome Powell said in a press conference that it was "not time yet" to discuss reducing the Fed's support for the recovering economy.

Ket notes

Biden says there is still more work to do to fight covid, we can't let our guard down - speech text

 Biden says US will stand up to unfair trade practices like subsidies for state-owned enterprises and theft of US technologies and IP.

Biden says he told the Chinese president Xi the US will maintain a strong military presence in the indo-pacific, as it does with nato in Europe.

Biden calls on Congress to pass the $15 an hour minimum wage.

Biden says he made clear to Russian president Putin that the US does not seek escalation, but their actions have consequences.

Biden calls on congress to pass the police reform bill by next month, the 1st anniversary of George Floyd's death.

Biden says he will work closely with u.s. allies to address threats posed by Iranian and North Korean nuclear programs "through diplomacy and stern deterrence".

Biden says the most lethal terrorist threat to the u.s. homeland today is from white supremacist terrorism.

Biden says Congress should pass something on immigration even if it's not his full proposal.

Biden calls for US to create an "advanced research projects agency for health" to prevent and treat diseases such as cancer, Alzheimer's. 

Biden calls for congress to extend the child tax credit through the end of at least 2025.

Biden says he will do everything in his power to protect Americans from "epidemic of gun violence," but congress must act as well.

Biden says it's time for corporate America and the wealthiest one per cent of Americans to "pay their fair share".

Biden says Congress needs to pass legislation this year to protect dreamers.