Bloomberg (29/10) -- U.S. stocks rose, with benchmark indexes climbing to records, as earnings from Pfizer Inc. to Xylem Inc. beat estimates and data indicating slower growth fueled bets the Federal Reserve will maintain stimulus.0
The Standard & Poor’s 500 Index rose 0.6 percent to 1,771.99 at 4 p.m. in New York, its third straight record. The Dow Jones Industrial Average jumped 112.26 points, or 0.7 percent, to 15,681.19, surpassing its all-time closing high from Sept. 18.
The S&P 500 climbed in 13 of the past 15 sessions, as companies beat estimates in the current earnings reporting season and signs of slower economic growth fueled bets the Fed will maintain stimulus measures after its two-day meeting that started today. The rally has pushed the index up 24 percent this year, leaving it poised for the best annual gain in a decade.
The 16-day government shutdown earlier this month took at least $24 billion out of the economy and will spur the Fed to wait until March to taper, a Bloomberg survey showed this month. The central bank’s policy makers convene today and tomorrow.
The Standard & Poor’s 500 Index rose 0.6 percent to 1,771.99 at 4 p.m. in New York, its third straight record. The Dow Jones Industrial Average jumped 112.26 points, or 0.7 percent, to 15,681.19, surpassing its all-time closing high from Sept. 18.
The S&P 500 climbed in 13 of the past 15 sessions, as companies beat estimates in the current earnings reporting season and signs of slower economic growth fueled bets the Fed will maintain stimulus measures after its two-day meeting that started today. The rally has pushed the index up 24 percent this year, leaving it poised for the best annual gain in a decade.
The 16-day government shutdown earlier this month took at least $24 billion out of the economy and will spur the Fed to wait until March to taper, a Bloomberg survey showed this month. The central bank’s policy makers convene today and tomorrow.
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