It would appear the president's proposal is to spend lots of money, but not on bridges like he claims. Not any time soon, anyhow.
I think the most comical news people are those that try and tell us why the stock market goes up or down. Sometimes (maybe 3 or 4 times per year) it's obvious, but usually it's a poor guess.
Investors react to very obvious things like Federal Reserve policy, jobs reports, consumer confidence, etc.