NEW YORK (Pakistan Point News / Sputnik - 11th August, 2021) Wall Street's blue-chip and industrial stocks hit historic highs on Tuesday after the Biden administration managed to secure a bipartisan Senate approval for a $1 trillion infrastructure deal.
The S&P 500, which groups the top 500 stocks on the New York Stock Exchange, continued its record-setting streak by rewriting for a second time in three sessions its all-time peak, with a surge to 4,445. The blue-chip index closed the day at 4,437 for a gain of almost 5 points or 0.1 percent.
The Dow Jones Industrial Average, the broadest US equity barometer on the NYSE, made a historic peak at 35,285 points before finishing the session at 35,265 for a gain of 163 points or 0.5 percent.
The technology-heavy Nasdaq Composite, which includes Big Tech Names such as Facebook, Amazon, Apple, Netflix and Google, did not hit a record high but came as close as it could to one, rising 0.5% to 14,895, less than two points shy of the previous peak.
Stocks rallied as the Senate on Tuesday approved a roughly $1 trillion proposal to improve the nation's roads, bridges, pipes, ports and internet connections, advancing a historic burst in Federal spending after years of failed attempts on Capitol Hill to invest anew in the country's aging infrastructure.
