Snapshot: With Fed apt to sit tight, Dow sets record


The Dow hit a record high on expectations the Fed, which is in the middle of a two-day meeting, will keep its stimulus intact. The index also got a boost from IBM; it will buy back $15 billion more of its stock. IBM rose 2.7%, accounting for a quarter of the Dow’s gain. The S&P 500 rose 0.6% to its seventh record high this month. About half of S&P 500 companies have posted third-quarter results; most are doing better than expected. Two weak reports may have encouraged investors by suggesting any slowdown in the Fed’s stimulus could be a ways off: Retail sales fell 0.1% in September, and confidence in the economy fell this month to a 6-month low.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of