Stocks wavered for much of the session in the aftermath of the Federal Open Market Committee’s meeting minutes yesterday and concerns about delayed timing of administration initiatives.
Stocks ended mixed with the Dow ahead, after minutes from the recent Fed meeting showed a central bank willing to act in the near term, if economic conditions merit a rate increase.
Stocks posted another day of solid gains at the start of a holiday-shortened trading week.
The major indexes ended in positive territory although the Dow and S&P 500 were in negative territory for much of the day.
Stocks closed essentially flat after their recent rallies as mixed economic reports showed a big gain in manufacturing activity in the Philadelphia area but also slower housing starts in several major U.S. regions.
The major indexes stayed on an upward trajectory on signs of growth in the U.S. economy.
Stocks at first traded cautiously as Federal Reserve Chair Janet Yellen testified before Congress, leaving an opening to a March rate hike.
The major indexes moved higher once again on encouraging earnings news and the prospects of tax cuts.
The major indexes continued their push to record highs, boosted by optimism over President Trump’s upcoming tax plan and the ratcheting down of tensions over whether the U.S. would continue to recognize the One China policy regarding Taiwan.