The index not only closed above the 4,700 mark for the first time, it also achieved the record of 8th consecutive record close, the S&P 500’s longest such winning streak since 1997.
The Nasdaq Composite Index closed at an all-time high of 15,982.36, after adding 10.77 points, or 0.07%, it closed higher for the 11th day in a row, longest streak since 2019.
The infrastructure bill has now been forwarded to President Joe Biden, while the lawmakers also turn to the president for his social spending bill, which the House of Representatives is expected to vote on the measure next week.
Additionally, the share of companies poised to benefit from the bill like Deere & Company DE and Nucor Corporation NUE rose 1.6% and 3.6%, respectively.
The Fed is constantly keeping eye on economic recovery, analyzing the extended period of high inflation and the labor market scenario.
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