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US stocks reach new highs

US stocks closed at fresh record highs yesterday after the Senate passed a US$1 trillion infrastructure bill.
US stocks reach new highs US stocks reach new highs US stocks reach new highs US stocks reach new highs US stocks reach new highs

Team USA Olympic gold medallist Ashleigh Johnson rang the opening bell yesterday on the New York Stock Exchange

Staff reporter

"I hope Congress will send it to my desk as soon as possible so we can continue our work of building back better," US president Joe Biden tweeted.

The S&P 500 gained 0.1% to close at 4,436.75 and the Dow Jones Industrial Average added 0.5% to 35,264.67.

It was their 45th and 31st closing highs of the year respectively, according to the Wall Street Journal.

Base metals rebounded on the London Metal Exchange yesterday, however iron ore continued to fall.

The MySteel 62% Australian iron ore fines price was down another 2.9%, to $168 per tonne.

Gold was slightly lower than this point yesterday, at $1,726 an ounce on the spot market.

Among the mining majors, BHP was up 1.9% in morning Australian trade.

Fresnillo fell 1.4% in London and copper producer Freeport-McMoRan closed up 4.8% in New York.