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S&P 500 crosses 4,000 for the first time after Biden unveils $2.25 trillion spending plan for infrastructure

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Technology shares, led by chipmakers, have seen major gains as investors’ sentiment lifted on strong optimism about US economic growth, along with a buoyant earnings outlook by US computer chip maker Micron.

The S&P 500, which tracks the stock performances of 500 large companies listed on stock exchanges in the US, jumped 0.8% to cross the 4,000 mark for the first time, while the Dow Jones Industrial Average rose 0.25% to 33,062.Meanwhile, broad market index also set an all-time intraday high as the Nasdaq rose 1.74%.Seven of the eleven S&P sectors grew, with technology and communication services gaining more than 1.5%.

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