The Dow hit a record high on Monday as the passage of a $1 trillion infrastructure bill lifted industrials, materials and other economy-focused sectors, while Tesla fell on top boss Elon Musk's plan to sell about a tenth of his stake.
Six of the 11 major S&P 500 sector indexes were higher in early trading after the Congress on Saturday passed the long-delayed infrastructure bill hailed by President Joe Biden as a "once in a generation" investment."I think there is investor interest once again in the industrial and material sectors now that the infrastructure package has been passed," said Sam Stovall, chief investment strategist at CFRA Research in New York.
"The markets are headed higher between now and year-end. But because we have gone six, seven days with new highs, investors are waiting for some short-term digestion of gains. Right now, seasonally, the market is in an uptrend."
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