November 8, 2021

Stocks tied to infrastructure moved higher on Monday morning after the House of Representatives passed a $1 trillion bill over the weekend, giving President Joe Biden one of his signature achievements and rewarding investors who bet on his plan.

The strength for those infrastructure stocks showed up in the Global X US Infrastructure Investment ETF, which trades under ticker PAVE, as it gained 1.5% and hit an all-time high in the opening minutes of the session. The fund’s top holdings include stocks like Nucor and Vulcan Materials, which moved solidly higher on Monday morning.

The need for significant infrastructure spending has for years been a talking point in Washington, but efforts had largely fallen flat before last week.

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