Wall Street Indices Continue Record-Breaking Ahead of Fed Meeting

The New York Stock Exchange (NYSE) finished higher on Monday, with two major indices closing at another new all-time high. So far, it seems that Wall Street Investors are reacting positively to the passing of the $1.9 trillion relief bill, which aims at easing the impacts of the Coronavirus pandemic.

The Dow Jones Industrial Average closed higher by 174.82 points, or 0.53%, at 32,953.46 points, while the S&P 500 increased by 25.60 points, or 0.65%, and settled at 3,969 points, with both breaking their all-time record for the highest closing level.

Meanwhile, the Nasdaq Composite Index rose by 1.05% and ended the session at 13,459.71 points

Despite the lack of major economic data today, manufacturing activity in New York showed an improved pace of growth during March, according to a survey by the Federal Reserve Bank of New York. The Empire State Manufacturing Survey indicated that the General Business Conditions Index rose to 17.4 in March from 12.1 in February, reaching its highest level since last summer.

Wall Street investors are keeping a close eye on the upcoming Federal Reserve meeting, looking for messages about the outlook for the American economy and potential developments in the inflation rate.