Stocks Close at Record High
Stocks Close at Record High (Bloomberg)
The S&P 500 and the Dow Jones Industrial Average closed up today, ending at 1,819.46 and 16,239.83, respectively, to notch record highs for each index. The S&P 500 rose 2.5% for the week, reversing the losses of the previous two weeks. Trading was buoyed by today’s release of the revised third quarter gross domestic product (GDP) figure, showing annualized growth of 4.1% in the United States. Additionally, yesterday’s announcement by the U.S. Federal Reserve of plans to taper their monthly bond-buying program by $10 billion, beginning in January, brought greater certainty to markets about the future.