Dow ends the session at a new high after the Fed leaves rates unchanged, Boeing Into better positions

Dow Jones and S&P 500

The U.S. stocks closed the session in better positions getting a hand from a better earning report and following the Federal Reserve’s decision to keep interest rates unchanged.

The Dow Jones industrial average was up by 97.58 points to close at 21,711.01 and hit intraday and closing records. Boeing was up by 9.88 percent and supplied the index with the most gains on the 30-stock index; The S&P 500 hit an intraday record before closing flat at 2,477.83. the Nasdaq composite climbed by 0.16 percent to end the session in 6,422.75 and also notched all-time highs.

The Fed was expected to keep the current monetary policy steady. The Central Bank, however, laid out the groundwork for winding down its massive stimulus program in September.

The Central Bank stated that they plan to start to engage as soon as possible, which is the crux of the statement. Fed watchers have been keeping an eye out for the language to change from “this year” as indicated by following the June meeting.

U.S. Treasury yields fell heading into the Fed’s announcement and plans to retain at similar level afterwards. The 10-year yield traded at 2.3 percent while the two-year yield held around 1.363 percent.

Investors in the session also focused on the corporate quarterly results. Dow-component Boeing posted its earnings per share of $2.55 which topped the Wall Street estimates. The Company’s sales came in below expectations but the firm raised its full-year earnings guidance to a range of $9.80 to $10 per share.


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