The Nasdaq Composite Index rallied to a record on Monday, breaking above the 7,000 level for the first time in its history. The index rose 0.9%, or 63 points, to hit an intraday record of 7,000.96. Among the biggest boosts to the index was Apple Inc. , the largest U.S. stock by market capitalization, which rose 1.4%. Alphabet Inc. , the parent company of Google, rose 1% on the day while Amazon.com Inc. was up 0.9%. The gains came on growing confidence congressional Republicans will succeed in getting a major tax bill passed this week. The Dow Jones Industrial Average rose 0.7% to 24,835 while the S&P 500 was up 0.7% at 2,693. Thus far this year, the Nasdaq is up 30%, boosted in large part by the outperformance of large-cap technology and internet stocks. According to Dow Jones data, it took the index 165 days to cross the milestone after hitting 6,000 for the first time. This is the third-fastest period that the Nasdaq has crossed a 1,000-point milestone in its history.