(CNBC) -- Stocks rose on Tuesday, pushing the Dow and S&P 500 to new records, after the Senate’s passage of a $1 trillion infrastructure package boosted stocks tied to economic growth.
The Dow Jones Industrial Average rose 162.82 points to 35,264.67 to close at a record, led by Caterpillar, which gained nearly 2.5%. The S&P 500 rose 0.1% to 4,436.75 and closed at a fresh all-time high. Meanwhile, the Nasdaq Composite dipped about 0.5% to 14,788.09, as a rise in Treasury yields weighed on tech stocks.
The Senate’s infrastructure plan, which includes $550 billion in new spending on transportation and broadband, is expected to help give the economy a boost as peak growth slows following the reopening from the pandemic.
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