You are here: Home » Reuters » News
Business Standard

Dow hits record high as banks gain, tech recovers

Reuters 

By Sruthi ShankarREUTERS - The Dow Jones Industrial Average hit a record intraday high as bank stocks rose ahead of a highly anticipated interest rate hike and as technology stocks rebounded.Traders have priced in a 94 percent chance of the Federal Reserve raising interest rates. Investors are also looking for more details on the central bank's plans to trim its $4.5 trillion balance sheet. The Fed is expected to release its decision at 2:00 p.m. ET (1800 GMT) on Wednesday followed by a press conference by Fed Chair Janet Yellen.A bout of profit-taking in richly-valued technology stocks ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, June 13 2017. 19:38 IST
RECOMMENDED FOR YOU