Stocks rose on Tuesday, pushing the Dow and S&P 500 to new records, after the Senate’s passage of a $1 trillion infrastructure package boosted stocks tied to economic growth.

The S&P 500 rose 0.1% to 4,436.75 and closed at a fresh all-time high. 

The Senate’s infrastructure plan, which includes $550 billion in new spending on transportation and broadband, is expected to help give the economy a boost as peak growth slows following the reopening from the pandemic.

Investors await the consumer price index and producer price index data, both of which measure inflation and are scheduled to come out Wednesday and Thursday, respectively.

Through Friday, 87% of the S&P 500 companies that reported quarterly results have beat earnings estimates. The same percentage of companies beat revenue estimates during that timeframe.

U.S. stock index futures were flat early on Wednesday, after the Dow and S&P 500 closed at record highs following the Senate passing the $1 trillion infrastructure bill.

The Nasdaq Composite slid 0.49%, registering its second negative session in the last three. The dip came as treasury yields advanced, weighing on growth-oriented areas of the market.

Cyclical areas of the market got a boost during trading, helped by both the bill’s passage and the rise in rates. The energy, materials, industrials and financials sectors all advanced more than 1%.

On the economic data front, July’s Consumer Price Index reading will be released on Wednesday. Economists surveyed by Dow Jones expect the index to have risen 0.5% last month, or 5.3% year over year. In June prices jumped 0.9%, which was the biggest monthly increase since August 2008.

A handful of central bank speakers, including Kansas City Fed President Esther George, are also expected this week. Investors will be listening for clues on how the Fed is approaching dialing back its bond purchases.

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Plan A : Remain sell as long as oil price stays below 69.0. Targets are 68.4 and 67.8.

Plan B : Consider buy if oil prices holds resiliently above 67.8 and rebound. Targets are 68.4 and 69.0.

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Plan A : Remain sell as long as gold price stays below 1766.1. Targets are 1730.6 and 1673.3.

Plan B : Consider long only if gold price holds firmly above 1730.6 and rebound. Targets are 1754.9 and 1766.1.