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Dow closes at a record high as Fed meeting begins

Published on NewsOK Modified: October 29, 2013 at 5:43 pm •  Published: October 29, 2013
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The Nasdaq composite rose 12.21 points, or 0.3 percent, to 3,952.34.

The Nasdaq Stock Market was hit with another glitch. Nasdaq indexes weren't updated from 11:53 a.m. to 12:37 p.m. because of a technical problem that was caused by human error, the exchange operator said in a statement. Trading of Nasdaq-listed stocks wasn't affected.

On Sept. 4, the Nasdaq had a brief outage in one of its quote dissemination channels, but trading wasn't disrupted. On Aug. 22 the exchange suffered a three-hour trading outage that was also attributed to problems with the exchange's price disseminating system.

Two economic reports came in relatively weak, which may have encouraged some investors by suggesting that any slowdown in the Fed's stimulus could be a ways off.

Retail sales fell 0.1 percent in September, the weakest showing since March, as auto sales dipped. Americans' confidence in the economy fell this month to the lowest level since April. People were worried about the impact of the 16-day partial shutdown of the U.S. government.

"The data that has been the most attractive to (stock) markets seems to be the data that maintains the status quo," said Brad Sorensen, the director of market and sector analysis at the Schwab Center for Financial Research.

The yield on the 10-year Treasury note fell to 2.50 percent from 2.52 percent Monday.