Dow closes at new record
The New York Stock Exchange. Credit: flickr.com/Brian GlanzThe Dow on Wednesday closed at a fresh record high after the US Federal Reserve stuck to a plan to begin raising near-zero interest rates only in 2015.
The Dow Jones Industrial Average rose by 24.88 points (0.15 percent) to 17 156.85, breaking the prior record by about 18 points.
The broad-based S&P 500 gained 2.59 (0.13 percent) at 2 001.57, while the tech-rich Nasdaq Composite Index advanced 9.43 (0.21 percent) to 4 562.19.
The Dow bolted as high as 17 221.11 soon after a Fed statement at 6pm GMT did not change the language the central bank has been using to signal its rate plans, saying any increase will happen only a 'considerable time' after the October end to its bond-buying stimulus program.
Analysts had been watching to see if the Fed would move up its expectations for the timing of a rate hike.
US equities gave back some of their gains in the last half hour of trade.
The Dow was also lifted by a call from activist investor Trian Partners to break up chemical and agricultural seed company DuPont into two companies. DuPont finished 5.2 percent higher, by far the biggest gain in the 30-stock blue-chip index.
AFP
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