The Dow rose 162 points today to a record close, riding political tailwinds after the U.S. Senate passed the $1 trillion bipartisan infrastructure package. The S&P 500 also notched a comfortable win and new intraday record high, as stocks tied to the infrastructure bill climbed.

The Nasdaq sat out today's gains though, as rising Treasury yields weighed on tech stocks. Looking ahead, investors are eagerly awaiting inflation measurements via the consumer price index and producer price index data, slated for release Wednesday and Thursday, respectively.

The Dow Jones Average (DJI - 35,264.67) rose 162.8 points or 0.5% for the day. Of the 30 Dow components, Caterpillar (CAT) topped the list of winners today, adding 2.5%, while Salesforce.com (CRM) paced the laggards with a 2.4% dip.

The S&P 500 Index (SPX - 4,436.75) gained 4.4 points or 0.1% for the day. Meanwhile, the Nasdaq Composite (IXIC - 14,788.09) shed 72.1 points, or 0.5%, for the day.

Lastly, the Cboe Volatility Index (VIX - 16.79) gained 0.07 points or 0.4%, for the day.

OIL PARES YESTERDAY'S LOSSES AFTER INFRASTRUCTURE BILL PASSES

Oil prices notched a win on Tuesday, paring some of yesterday's losses as increased demand for black gold overshadowed rising Covid-19 cases in Asia. In addition, the infrastructure bill is expected to boost the economy and demand for oil products. As a result, September-dated crude rose $1.81, or 2.7%, to settle at $68.29 a barrel for the day.

Gold prices, meanwhile, fell once again, as the U.S. dollar strengthened and bond yields rallied. Investors are betting on the central bank cutting its economic support, which continues to weigh on bullion, while a hike in interest rates could also reduce the precious metal's appeal. The most active contract, December-dated gold, lost $5.20, or 0.3%, to settle at $1,731.70 an ounce today.