The S&P 500 closed above 4,700 on Nov. 8, recording a fresh record high after Congress approved President Joe Biden’s infrastructure spending proposal. The Dow Jones Industrial Average and the Nasdaq Composite also touched new all-time highs. During a raucous Nov. 5 on Capitol Hill, the House of Representatives passed a $1.2 trillion bipartisan infrastructure bill. The legislation, which received a final vote of 228–206, now heads to President Biden’s desk for his signature. “We took a monumental step forward as a nation,” President Biden told reporters on Nov. 6. “We did something that’s long overdue … a once-in-a-generation investment that’s going to create millions of jobs modernizing infrastructure, our roads, our bridges, our broadband, all range of things.” The infrastructure component of the president’s Build Back Better agenda includes $550 billion in new federal spending. The bill allocates $110 billion for highways and roads, $66 billion for passenger and …