The Dow Jones Industrial Average closed at new record high on Wednesday after the Federal Reserve announced that it would continue to keep interest rates low.
The Dow gained 24 points, or 0.2%, to close at 17,156. The previous record was 18 points lower, which the index hit in July. This is the sixteenth record close for the blue chip index in 2014, according to USA Today.
The Standard & Poor’s 500 Index also went up by two points, or 0.1%, to finish at 2,001 points. The S&P 500 is just six points shy of its own record close.
Meanwhile, the Nasdaq rose nine points, or 0.2%, to close at 4,562.
The Federal Reserve is sticking to its plan to keep near-zero interest rates for a “considerable time,” chairwoman Janet Yellen said during a Wednesday news conference.
Adding to the Dow’s success today, activist investor Trian Partners called for the break up of chemical and agricultural seed company DuPont (DD) into two separate companies. DuPont finished up 5.2%.
Meanwhile, FedEx (FDX) gained 3.3% after it posted first-quarter earnings of $2.10 per share, beating analyst’s expectations by 14 cents.
