- 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.
Dow notches another record as dovish Fed views gain upper hand
Nov 6 2013, 16:15 ET