Dow, S&P Rise to All-Time Highs

Meanwhile, Fed expected to raise rates on Wednesday

By Newser Editors and Wire Services

Posted Dec 12, 2017 3:20 PM CST

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Dow Reaches Another All-Time High — Trader Mark Muller works on the floor of the New York Stock Exchange in this file photo. (AP Photo/Richard Drew)

Big-company stocks notched gains on Wall Street, bringing more records for major indexes, but smaller companies lagged behind. The Standard & Poor's 500 index and the Dow Jones industrial average closed at all-time highs Tuesday, but indexes tracking smaller companies fell, per the AP. The Dow added 118 points, or 0.5%, to 24,504. The Nasdaq fell 12 points, or 0.2%, to 6,862. The S&P 500 rose 4 points, or 0.2%, to 2,664.

Banks rose as the Federal Reserve met to discuss interest rates. The Fed is expected to raise rates again Wednesday, which allows banks to charge more to lend money. Wells Fargo rose 2.5 %. In the emerging world of cryptocurrency, Bitcoin futures fell on their second day of trading. More stocks fell than rose on the New York Stock Exchange.

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