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Dow hits record high as banks gain, tech recovers


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 ...

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