What had been a market in the doldrums was roused from listlessness this week after the announcement by the Federal Reserve that the US job market is improving and inflation is low.
Wednesday’s rise in the Standard & Poor’s 500 index was the fourth straight day of rising values, reaching a record high at closing time.
“The important thing is that the Federal Reserve has acknowledged that the unemployment rate seems to be coming down just a little bit faster than they expected,” said David Kelly, chief global strategist at J.P. Morgan Funds.
The S&P index climbed 0.8 percent, or 14.99 points, closing at 1,956.98, a record high. Earlier this week the S&P reached 1,951.27, a previous record.
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