U.S. stock indexes clawed their way to record highs Wednesday as investors assessed the prospects of a massive spending project and looked ahead to the Federal Reserve’s Jackson Hole Symposium. 

The Dow Jones Industrial Average rose 39 points, or 0.11%, while the S&P 500 index and the Nasdaq Composite index were higher by 0.22% and 0.15%, respectively. The gains propelled both the S&P and the Nasdaq to another round of all-time highs as the Dow closed about 222 points below its own record peak.The U.S. House of Representatives on Tuesday approved a $3.5 trillion budget resolution that creates the framework for the "human infrastructure" package the Senate hopes to pass via the reconciliation process, which would avoid a Republican filibuster. The lower chamber also advanced the $1 trillion bipartisan infrastructure plan that would provide funding for roads, bridges and broadband, among other things.

Investors will be paying close attention to developments that come from the Fed’s Jackson Hole conference that takes place Thursday and Friday when the central bank could telegraph its timeline to begin tapering its asset purchase program and begin raising rates. 

In stocks, infrastructure-linked companies, including Caterpillar Inc. and Deere & Co., were in focus after the House advanced the $3.5 trillion spending package.  Financials gained as selling of U.S. Treasurys steepened the yield curve while causing the 10-year note yield to rise 5 basis points to 1.34%.... Read More: FOX Business