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U.S. equity markets soared Tuesday after a report that President Trump is considering a $1 trillion infrastructure plan and retail sales gained the most on record after a sharp drop in April.

The Dow Jones Industrial Average gained 818 points, or 3.2 percent, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite rose 2.78 percent and 2.33 percent, respectively.

The president’s proposal would allocate most of the money for projects like roads and bridges, but would also provide funding for 5G wireless infrastructure and rural broadband, according to Bloomberg, citing people familiar with the plan.

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