US STOCKS-Dow hits record on shifting views over Fed's next move
By Rodrigo Campos
NEW YORK, Sept 16 (Reuters) - U.S. stocks rose on Tuesday with the Dow Industrials hitting a record intraday high as markets reacted to wavering expectations over the language the Federal Reserve will use Wednesday to describe its next policy move.
Major indexes rallied into the afternoon with participants citing an article in the Wall Street Journal as indicating the Fed could be less hawkish than markets have been expecting.
The talk was that the Fed's statement "will stay intact or along those lines. That seems to be what shifted the markets' direction today," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.
"Overall the language that's there now has been positive for the (stock) market," she said.
The Dow Jones industrial average rose 125.07 points, or 0.73 percent, to 17,156.21, the S&P 500 gained 17.44 points, or 0.88 percent, to 2,001.57 and the Nasdaq Composite added 34.08 points, or 0.75 percent, to 4,552.98.
The Dow hit a record at 17,167.05.
Energy shares continued to lead the market higher as crude prices rose. Utilities, a proxy for investor appetite for dividend payers, were also moving sharply higher.
The largest percentage gainer on the New York Stock Exchange was Glimcher Realty, which jumped 29.65 percent after Washington Prime announced the purchase of Glimcher for $4.3 billion, while the largest percentage decliner was Atlantic Power, down 30.45 percent after it said it would replace its CEO and slash its dividend. Continuación...