Dow Hits Record High as Infrastructure Bill Lifts Cyclicals

Dow Hits Record High as Infrastructure Bill Lifts Cyclicals
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on Oct. 19, 2021. Brendan McDermid/Reuters
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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.

Five of the 11 major S&P 500 sector indexes were higher after the Congress on Saturday passed the long-delayed infrastructure bill.