Stocks are closing broadly higher on Wall Street, pushing the S&P 500 past 4,000 points for the first time.
Big Tech companies like Microsoft led the gains. The benchmark index climbed 1.1%, and the tech-heavy Nasdaq added 2.6%. Smaller companies continued to outpace the rest of the market. Companies that would benefit from greater sales of electric vehicles rose after President Joe Biden outlined various measures to support their use as part of his massive infrastructure plan.
The S&P 500 rose 46.98 points, or 1.2%, to 4,019.87.
The Dow Jones Industrial Average rose 171.66 points, or 0.5%, to 33,153.21.
The Nasdaq rose 233.23 points, or 1.8%, to 13,480.11.
The Russell 2000 index of smaller companies rose 33.38 points, or 1.5% to 2,253.90.
For the week:
The S&P 500 is up 45.33 points, or 1.1%.
The Dow is up 80.33 points, or 0.2%.
The Nasdaq is up 341.38 points, or 2.6%.
The Russell 2000 is up 32.42 points, or less than 1.5%.
For the year:
The S&P 500 is up 263.80 points, or 7%.
The Dow is up 2,546.73 points, or 8.3%.
The Nasdaq is up 591.82 points, or 4.6%.
The Russell 2000 is up 279.05 points, or 14.1%.