NEW YORK (AP) — The Dow Jones industrial average is back in record territory.
Investors drove the Dow to an all-time high Tuesday on expectations that the Federal Reserve will keep its economic stimulus program in place.
The Fed is in the middle of a two-day policy meeting at which it’s expected to maintain its $85 billion worth of monthly bond purchases. That program is aimed at stimulating economic growth by keeping borrowing costs at historic lows.
Stocks have surged to record levels this year as the Fed’s stimulus has helped corporations boost profits. Relatively low yields on bonds have also encouraged investors to buy stocks.