U.S. markets end on record high on reassurance from Federal Reserve

  • US stocks closed at record highs on Tuesday after Federal Reserve officials reassured investors that the central bank is likely to continue its stimulus program.

    The Federal Reserve's $85 billion a month bond buying program has played a major role in boosting the economy.

    In recent weeks, investor sentiment has teetered over whether the central bank would change or halt the program.

    The Dow Jones industrial average closed up 52.30 points, or 0.34 percent, to end at a record 15,387.58.

    Meanwhile, the Standard & Poor's 500 Index gained 2.87 points, or 0.17 percent, to close at a record 1,669.16.

    The Nasdaq Composite Index picked up 5.69 points, or 0.16 percent, to end the day’s trade at 3,502.12, its highest close since October 2000.

    Tagged as: Business news, stock market, US stocks, Federal Reserve