Dow Jones hits record high

The Dow Jones industrial average gained more than 45 points yesterday, reaching the all-time high closing record of 16,580.84, according to Bloomberg.

The previous high of 16,576.66 was set on Dec. 31. The Standard & Poor’s 500 gained 0.6 percent in April, its third straight monthly gain.

The climb in stocks accompanied the Federal Open Market Committee’s announcement that it would continue to trim the pace of bond purchases as the economy gains steam. The committee set its monthly asset-buying limit at $45 billion, its fourth straight $10 billion cut under the quantitative easing, or QE, program.


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