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Dow Closes At Record High On Fed Stimulus Hopes

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NEW YORK, NY - OCTOBER 29: A trader works on the floor of the New York Stock Exchange at the end of the trading day on October 29, 2013 in New York City. The Dow Jones Industrial Average rose over 100 points in response the expectation the Federal Reserve will continue its economic stimulus program. (Photo by Andrew Burton/Getty Images) | Getty

NEW YORK -- NEW YORK (AP) — The Dow Jones industrial average is closing at a record high as investors expect the Federal Reserve to keep up its economic stimulus program.

The Dow rose 111 points, or 0.7 percent, to close at 15,680 Tuesday, four points above the all-time high it set on Sept. 18.

Investors expect the Fed will decide to keep up its bond-buying program at its policy meeting that began Tuesday. The Fed will announce its decision Wednesday afternoon.

The Standard & Poor's 500 index closed at a record high for the seventh time this month. The S&P 500 gained almost 10 points, 0.6 percent, to 1,772.

The Nasdaq composite rose 12 points, or 0.3 percent, to 3,952. The Nasdaq remains far below the record high of 5,048 it set in March 2000.

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