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.