The S&P 500 ticked further into record territory on Thursday after the Federal Reserve made a major overhaul to its strategy, one that could keep interest rates low for longer.
The benchmark index rose 0.2%, to another all-time high, but it veered through a jumbled day of trading to get there. Prices for stocks, bonds and gold all made several U-turns after Fed Chair Jerome Powell gave a highly anticipated speech. In it, he essentially said the Fed may continue efforts to prop up the economy even if inflation rises above its target level of 2% in some cases.
The S&P 500 gained 5.82 points, or 0.2%, to 3,484.55.
The Dow Jones Industrial Average climbed 160.35 points, or 0.6%, to 28,492.27 .