Nasdaq and S&P 500 scale new peaks, Dow rallies; Caterpillar jumps 3.4%

Mega-caps Microsoft Corp, Netflix Inc and Facebook Inc gained between 0.4% and 1.3% and were among the biggest boosts to the S&P 500 and the Nasdaq

The Nasdaq and the S&P 500 indexes hit all-time highs on Thursday, with the Dow also jumping, as US President Joe Biden embraced a bipartisan Senate infrastructure deal.
 

After the US economy grew at a 6.4% annualized rate in the first quarter, thanks to the massive fiscal stimulus, investors have been banking on an infrastructure agreement that could steer the next leg of the recovery for the world's largest economy.

Caterpillar jumped 3.4% and Boeing rallied 2.2%, helping lift the Dow Jones Industrial Average.
 

"In the short term, I think there will be some 'buy the rumor and sell the news'