Stocks Hit Record on Bets Economy Is Pushing Ahead: Markets Wrap
- Biden, senators get $579 billion infrastructure agreement
- Banks easily clear stress tests, setting stage for payouts
(Source: Bloomberg)
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Stocks climbed to an all-time high as President Joe Biden’s bipartisan $579 billion infrastructure deal added to optimism the economic recovery is taking hold. The dollar fell.
Companies that stand to benefit the most from a rebound in activity outperformed -- with financial and energy shares leading gains in the S&P 500. Caterpillar Inc., the world’s biggest maker of mining and construction equipment, jumped alongside raw-material producers such as U.S. Steel Corp. and Nucor Corp.