the republic logo

Dow Jones industrial average closes at record high after Fed maintains stance on rates

bug
Share/Save/Bookmark

NEW YORK — The Dow Jones industrial average is closing at a record high after the Federal Reserve maintained its stance on record-low interest rates.

The Dow rose 24 points, or 0.2 percent, to close at 17,156 Wednesday, surpassing its previous high from July by 18 points. The blue-chip average rose as much as 89 points after the Fed kept the phrase "considerable time," in referring to how long it would wait before raising interest rates.

The Standard & Poor's 500 index edged up two points, or 0.1 percent, to finish at 2,001. The Nasdaq rose nine points, or 0.2 percent, to 4,562.

The Fed has held the short-term rates it controls close to zero for more than five years, which has helped stimulate the economy and fueled a bull market for stocks.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.