Dow notches record close after Fed hikes rates

13.12.2017 / 23:15

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U.S. stocks rose on Wednesday after the Federal Reserve felt confident enough in the economy to raise rates yet again. Investors also digested news of Congressional leaders reaching a tentative agreement on a tax overhaul plan.

The Dow Jones industrial average rose 144 points to reach a record high, with Caterpillar leading advancers. The S&P 500 gained 0.25 percent and hit an all-time high. The Nasdaq composite advanced 0.4 percent.

The move by the Fed lifts the target range to 1.25 percent to 1.5 percent. The Fed was widely expected to raise rates at this meeting.

The central bank also raised its 2018 GDP estimate to 2.5 percent from 2.1 percent in September.

Source: Bloomberg Pro Terminal

Jr Trader Alexander Kumanov

Varchev Traders

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Dow notches record close after Fed hikes rates

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