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Post by bot on Dec 15, 2016 23:00:11 GMT -5
U.S. stocks end higher; Dow draws closer to 20,000
U.S. stocks finished higher on Thursday as investors braced for the Federal Reserve to raise interest rates more quickly than previously expected. The S&P 500 index gained 8.74 points, or 0.4%, to 2,262.02. The Dow Jones Industrial Average advanced 59.85 points, or 0.3%, to 19,852.38, leaving it just below the psychologically important 20,000 milestone. Financial shares led both the S&P 500 and the Dow, with Goldman Sachs Group and J.P. Morgan Chase & Co. seeing the largest gains on the blue-chip index. The Nasdaq Composite Index rose 20.18 points, or 0.4%, to 5,456.85. The Fed raised interest rates on Wednesday for the second time since the financial crisis. It also released a new batch of economic projections showing a plurality of Fed officials believe the central bank will raise interest rates three times in 2017, up from two times in the previous batch of projections.
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