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Hopes of More Stimulus Push the Dow Higher Today

Brendan Byrnes
June 19, 2012

After a disappointing day on Monday despite the pro-bailout party victory in the Greek elections, the Dow Jones Industrial Average (INDEX: ^DJI  ) redeemed itself today, rising nearly 100 points on optimism ahead of a stimulus decision from the Federal Reserve due tomorrow. Investors are hopeful that the Fed will announce additional measures this week to rejuvenate the domestic economy.

The rally occurred despite continuing uncertainty in Europe, as yields on Spanish short-term bonds surged while the country continues to struggle to find buyers for its debt. Yields on Spanish benchmark 10-year bonds remained at unsustainably high levels, near 7%. But today was all about investor optimism in some kind of action from the Fed, which was the main factor in driving markets up.

Here's how all three major U.S. indices fared on the day:



Ending Value

Dow Jones Industrial Average 95.51 [0.75%] 12,837.33
Nasdaq (INDEX: ^IXIC  )