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S&P hits record after Fed assures markets on rates and economy
Zone(s): USA ¦ Sector(s): Stockmarket
[19 June 2014, CITY A.M.] By Oliver Smith: The S&P 500 closed at a new record high last night as US stocks rose in the wake of the Federal Reserve striking a dovish tone in its post-meeting statement.
The Fed hinted at a slightly faster pace of interest rate increases starting next year, but also suggested long-term rates would be lower than indicated previously.