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Post by bot on Dec 13, 2017 17:24:14 GMT -5
Dow finishes at record for fourth session as Fed hikes interest rates on improved economic outlook
The Dow closed at a record for a fourth straight session Wednesday after the Federal Reserve hiked interest rates and raised its U.S. gross domestic product growth target for 2018 to 2.5% from 2.1%. "Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate," said the Fed in announcing its decision. The S&P 500 , however, slipped into the red toward the closing bell, dropping a point to 2,663. The Dow Jones Industrial Average gained 84 points, or 0.3%, to 24,589 and the Nasdaq Composite Index advanced 13 points, or 0.2%, to 6,875.
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