US shares hit fresh all-time highs on Tuesday, ahead of the conclusion of a Federal Reserve meeting that is expected to see economic stimulus measures maintained.
On Wall Street the Dow Jones closed up 111 points at 15,680 – beating the previous high set in September.
The Nasdaq was up 12 points at 3,952, just short of its March 2000 record.
The S&P 500 closed at a fresh high of 1,772, after gaining almost 10 points in the day’s trading.
US traders broadly expect the US Fed to keep its programme of quantitative easing in place for several more months, and analysts say the economic indicators support that view.
The level of support provided to the economy by the Fed has become a significant factor in market sentiment in recent months.
Any sign that the economic recovery is stumbling is taken as an indication that stimulus measures will be kept in place, and will not be gradually tapered.
“The Fed has been pretty clear about making decisions dependant on data and the data the Fed has received since the last meeting have certainly not been upbeat,” said Art Hogan, head of product strategy equity research at Lazard Capital Markets.
“So therefore making a move towards tapering would be difficult to explain.”
On Monday, figures suggested US manufacturing output barely rose in September, while contracts to buy previously owned homes recorded their largest drop in nearly three and a half years.
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That period does not cover the recent US government shutdown, which is also expected to have hit economic growth.
