(NEW YORK) — Tuesday stocks closed higher as investors banked on continued policy support from the Federal Reserve.
On Wednesday, the Federal Reserve will release the minutes from its latest policy meeting. Investors are looking for hints that the Central Bank will ease up on its multi-billion-dollar bond-buying program, which helped push the stock market to all-time highs.
For the 19th straight week, The Dow Jones Industrial Average finished Tuesday trading in positive territory, up 52.30 points, or 0.34 percent, at 15,387.58. Since the Tuesday winning streak began on Jan. 15 of this year, close to 85 percent of the Dow’s gains, totaling more than 1,400 points, have come on a Tuesday.
The Nasdaq Composite added 5.69 points to close at 3,502.12. The S&P 500 gained 2.87, closing at 1,669.16 for the session.
The Dow & the S&P both hit new all-time highs Tuesday. The Nasdaq closed at a fresh 12 ½-year high. Year to date, the Dow is up 17.43 percent, while the Nasdaq and S&P are up 15.98 percent and 17.04 percent, respectively.
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Madison Park, Keith Allen and Andreas Preuss, CNN