Wall Street closes higher with oil rise, Trump's plan

By Ovunc Kutlu

NEW YORK

Wall Street closed higher Tuesday with a rise in oil prices and President Donald Trump saying his administration is working on an infrastructure plan that is worth $1 trillion.

"We’re talking about a very major infrastructure bill of a trillion dollars, perhaps even more,” Trump said in a gathering at the White House, which was attended by more than 50 American executives.

Trump's Transportation Secretary Elaine Chao said the government plans to announce the infrastructure bill in May, and added that the $1 trillion will be spread over the next 10 years.

The Dow added 39 points to end the day at 20,689 and the S&P 500 rose one point to hit 2,360.

The Nasdaq increased three points to finish trading at 5,898.

At the final bell, American benchmark West Texas Intermediate was trading at $51.07 per barrel with a 1.6 percent gain, and international benchmark Brent crude was at $54.13 with a 2 percent increase.