Investor Alert

Aug. 10, 2021, 4:08 p.m. EDT

Dow, S&P 500 book record closes as Senate passes infrastructure bill, investors await inflation readings

U.S. stocks finished at or near records on Tuesday, as the Senate passed a $1 trillion infrastructure bills and investors awaited data due this week on inflation. The Dow Jones Industrial Average [: DJIA] closed about 162 points, or 0.5%, at 35,265, while the S&P 500 index (S&P:SPX) ended up 0.1% at 4,436, on a preliminary basis. It was the 31st record closing high for the Dow in 2021 and the 45th for the S&P 500. The Nasdaq Composite Index (NASDAQ:COMP) ended 0.5% lower at around 14,788. The gains come as the Senate on Tuesday voted 69-30 to approve a bipartisan infrastructure bill, sending the $1 trillion measure to the House of Representatives for its approval. The bill, known as the Infrastructure Investment and Jobs Act, calls for $550 billion in new public-works spending above what already was expected in future federal investments, including $110 billion for roads, bridges and other projects, as well as $66 billion for rail, $65 billion for broadband internet and $55 billion for water systems. In corporate news, shares of AMC Entertainment Holdings (NYS:AMC) reversed an early surge and ended lower after the movie-theater chain reported a narrower quarterly loss late Monday.

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