Expectations of higher US interest rates this month powered the Dow Jones Industrial Average index to a fresh record high – above 21,000 for the first time.
The 30-stock ticker which earlier this year broke above 20,000, marked the new milestone soon after the Wednesday opening.
The Dow advanced a convincing 1% to 21,016 at the last look. It marked a record high of 21,017.77.
Bank Goldman Sachs (NYSE:GS) which represents a quarter of the upside gains of the Dow by itself, was up 2.7% at $254.84 early on Wednesday.
Overnight Fed officials like influential New York Fed’s William Dudley cleared the way for a rate hike at this month’s Fed meeting. Fed funds rates now price in more than a 8-% chance of a hike this month.
Story by ProactiveInvestors