Dow notches another record as dovish Fed views gain upper hand


The Dow easily closed at record highs and the S&P came close, but the Nasdaq and Russell 2000 wound up in negative territory.

Investors expecting continued Fed stimulus efforts gained the upper hand and drove the day's advance, sparking gains in interest rate-sensitive stock sectors such as utilities, telecoms and consumer staples.

The tech-heavy Nasdaq was pressured by notable losses among momentum names such as Tesla, Priceline, Facebook and Yelp; Microsoft, however, added 4% of news of progress in its search for a new CEO.

Treasury prices rose as the market priced in dovish views of the trajectory of short-term interest rates; the benchmark 10-year yield fell 3 bps to 2.644%.

Crude oil futures climbed 1.5% to $94.80 after a smaller than expected rise in U.S. crude supplies.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs