S&P 500 closes above 4,700 | Infrastructure stocks rally | How hot was inflation in October?

Infrastructure stocks got a lift Monday following the passage of new spending in Washington.

VIEW IN BROWSER | SUBSCRIBE MON, NOV 08, 2021 EVENING BRIEF AS OF MON, NOV 08, 2021 • 04:54 ET DJIA 36432.22 +0.29% +104.27 S&P 500 4701.70 +0.09% +4.17 NASDAQ 15982.36 +0.07% +10.77   Most Active DOW NAME LAST CHG %CHG AAPL 150.44 -0.84 -0.56% INTC 51.55 +0.63 +1.24% MSFT 336.99 +0.93 +0.28% S&P 500 NAME LAST CHG %CHG F 20.15 +0.86 +4.46% AMD 150.16 +13.82 +10.14% PFE 48.33 -0.28 -0.58% NASDAQ NAME LAST CHG %CHG AMD 150.16 +13.82 +10.14% AAPL 150.44 -0.84 -0.56% PTON 51.25 -4.39 -7.89%   EDITOR'S NOTE Infrastructure stocks got a lift Monday from the passage of new spending in Washington, boosting the major U.S. averages to new highs.   The U.S. House of Representatives passed a more than $1 trillion infrastructure bill late Friday, sending the legislation to President Joe Biden for his signature.   The S&P 500 closed above 4,700 for the first time Monday. All three major stock indexes posted record closes — the 64th of the year for the S&P 500.    Mining company Freeport-McMoRan, construction materials stock Vulcan and steel corporation Nucor were among the notable gainers on the S&P 500. Construction equipment maker Caterpillar ended the day 4% higher, leading the rally for the blue-chip Dow Jones Industrial Average.   The Global X U.S. Infrastructure Development exchange-traded fund reached a new all-time high Monday morning and closed nearly 1.3% higher. Investors are awaiting fresh inflation data slated for release later this week. The October producer price index is due Tuesday, and last month's consumer price index is due Wednesday. Economists forecast hot inflation readings on both fronts for October.   Inflation is one economic indicator watched closely by the Federal Reserve as the central bank is set to wind down its easy monetary policy. The Fed announced last week that it would start reducing its bond-buying program by the end of November.  Hannah Miao | CNBC Associate Markets Reporter @HannahMiao_ Watch our live stream for all you need to know to invest smarter. TOP NEWS  S&P 500 closes above 4,700 for the first time as infrastructure stocks rally Elon Musk faces a $15 billion tax bill, which is likely the real reason he's selling stock As the bipartisan infrastructure bill passes, here's what's next for Biden's economic plans Pandemic milestone: U.S. ends international travel ban, opening the door to vaccinated tourists Investors are piling into infrastructure stocks after House passes Biden plan Randal Quarles to resign at year-end, paving way for Biden to further remake the Federal Reserve Tesla shares slide after Elon Musk proposes selling 10% of his stock in a Twitter poll The stock market has rallied past just about every 2021 forecast from Wall Street's top strategists Cramer calls a 'Captain Obvious' rally in infrastructure stocks, says buyers beware AMD shares jump after company wins Meta partnership, announces new chips   TOP VIDEO What it would take for Tesla to hit $1,800 this year, according to Wedbush's Dan Ives   CNBC PRO Ariel Investments' John Rogers shares a new value stock pick with market at record highs   SPECIAL REPORTS The deadline to sign up for the enhanced child tax credit is Nov. 15 to get money this year Holiday shoppers plan to spend up to $276 per family member on average this season. These tips can help them avoid getting into debt   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS