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Dow closes at a record high as Fed meeting begins

October 29, 2013 • Business


A board on the floor of the New York Stock Exchange shows the record closing number for the Dow Jones industrial average. Tuesday, Oct. 29, 2013. (AP Photo/Richard Drew)

NEW YORK (AP) — Investors drove the Dow Jones industrial average to an all-time high Tuesday on expectations that the Federal Reserve will keep its economic stimulus program in place.

The Dow rose 111.42 points, or 0.7 percent, to 15,680.35. The Dow also got a big boost from IBM, which announced that it would buy $15 billion more of its own stock.

The Fed is in the middle of a two-day policy meeting at which it’s expected to maintain its $85 billion worth of bond purchases eLogin to read more

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