- The S&P and the Dow industrials on Monday were on course for new record highs.
- Stocks mostly gained after lawmakers passed a $1.2 trillion infrastructure bill.
- Consumer inflation data is on the radar this week.
US stocks were mostly higher Monday, setting their sights on fresh record highs after lawmakers passed a massive and long-awaited infrastructure bill.
The gains come ahead of Wednesday's reading on consumer inflation, which has hit multiyear highs in 2021.
The S&P 500 and the Dow Jones Industrial Average were on course to notch new record highs. On Saturday, House lawmakers approved a $1.2 trillion infrastructure bill, which includes funding for roads, highways, alongside electric vehicles, clean energy, and high-speed broadband.
The bill passed in the Senate in August with 19 Republicans.
Stocks were building on gains notched Friday after the Labor Department said US economy created 531,000 jobs in October, well above the 450,000 economists had expected.
Here's where US indexes stood at 9:30 a.m. on Monday:
- S&P 500: 4,709.14, up 0.25%
- Dow Jones Industrial Average: 36,487.31, up 0.44%
- Nasdaq Composite: 16,005.46, up 0.21%
Around the markets, Tesla stock fell during premarket trade after CEO Elon Musk proposed a sale of about 10% of his stake of the company's shares.
Ether hit record highs on Monday on a higher burn rate of tokens and on new money flowing into the market, bringing the total value of the cryptocurrency market to $3 trillion for the first time.
Gold rose 0.3% at $1,823.91 per ounce. The 10-year yield fell to 1.475%.
Oil prices gained, with West Texas Intermediate crude up 0.7% at $81.80 per barrel. Brent, oil's international benchmark, picked up 0.5% to $83.15.
Bitcoin jumped 3.7% to $65,539.39.
