Dow Posts Strong Gains After News Out of DC

Infrastructure deal goes over well on Wall Street
By Newser Editors,  Newser Staff
Posted Jun 24, 2021 3:14 PM CDT
Dow Posts Strong Gains After News Out of DC
A woman passes an entrance of the New York Stock Exchange, Wednesday, June 16, 2021.   (AP Photo/Richard Drew)

Progress on an infrastructure plan out of DC gave the market a lift on Thursday. The Dow rose 322 points to 34,169, the S&P 500 rose 24 points to 4,266, and the Nasdaq rose 97 points to 14,369. Those were record closes for both the S&P and the Nasdaq, reports CNBC. Construction-related stocks in particular were up because of the infrastructure deal—and the prospects of hefty building contracts, per the Wall Street Journal. The gains follow last week's lousy market performance, as investors appear to be making a shift in thinking. “With the market hitting new highs this week, investors could be coming to terms with the fact that the Fed will inevitably raise rates,” says Mike Loewengart of E-Trade. (Read more stock market stories.)

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