Dow hits record high as infra bill lifts cyclicals; Tesla stock falls

The Dow Jones Industrial Average was up 170.49 points, or 0.47%, at 36,498.44

The Dow hit a record high on Monday as the passage of a $1 trillion infrastructure bill lifted industrials, materials and other economy-focused sectors, while Tesla fell on top boss Elon Musk's plan to sell about a tenth of his stake.

Six of the 11 major S&P 500 sector indexes were higher in early trading after the Congress on Saturday passed the long-delayed infrastructure bill hailed by President Joe Biden as a "once in a generation" investment.

"I think there is investor interest once again in the industrial and material sectors now that the infrastructure package has been passed," said Sam Stovall,