Dow closes above 36,000 for first time as investors await Fed decision


Major stock indexes booked another round of record finishes Tuesday, a day ahead of a pivotal Federal Reserve decision. The Dow Jones Industrial Average DJIA, +0.39% rose around 139 points, or 0.4%, to close near 36,053, according to preliminary figures, ending above the 36,000 milestone for the first time. The S&P 500 SPX, +0.37% gained around 17 points, or 0.4%, to end near 4,631, while the Nasdaq Composite COMP, +0.34% advanced around 54 points, or 0.3%, to finish near 15,650. The Dow, S&P 500 and Nasdaq all closed at records for a third straight day. The last time the three benchmarks all closed at records for three consecutive days together was the three trading days ending Dec. 23, 2019, according to Dow Jones Market Data. Attention on Wednesday will be on the Fed, which is fully expected to begin scaling back monthly asset purchases. Investors will also be watching to see if Fed Chairman Jerome Powell pushes back against rising market expectations for the central bank to begin delivering a series of rate increases in 2022.

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