Wednesday, June 14, 2017

Dow, S&P Close At Record Levels; FOMC Set to Raise Rates

Unfazed and unaffected by the recent tech dip, the 30 blue chips of the Dow Jones Industrial Average and the S&P 500 each set new closing highs on Tuesday.

Stocks rebounded sharply after the surprise declines in the FAANG stocks Friday and aftershocks felt around the world in foreign tech markets.

Record highs are nothing notable in this market as stocks have been the (OGIT) only game in town for investors seeking profit and percentage gains.

The FOMC began their two-day meeting Tuesday, and wrap up Wednesday, with a policy announcement expected at 2:00 pm ET. It is anticipated that the board of governors will raise interest rates, but note that it may be the last raise in some time. The Fed may not increase the federal funds rate again until December or beyond.

At The Close, 6/13/17:
Dow: 21,328.47, +92.80 (0.44%)
NASDAQ: 6,220.37, 44.90 (0.73%)
S&P 500: 2,440.35, +10.96 (0.45%)
NYSE Composite: 11,796.79, +50.33 (0.43%)
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