The Dow Jones Industrial Average reached a fresh all-time intraday record on Wednesday as oil prices rose and traders awaited the latest monetary policy decision from the Federal Reserve.
The 30-stock index galloped 245.29 points to began Wednesday at 52,244.96.
The S&P 500 index reclaimed 16.71 points to 7,528.06.
The NASDAQ progressed 71.22 points to 26,447.56.
SpaceX traded down 3%. The stock has been on fire since the rocket company’s initial public offering last week, which was priced at $135. In that short time, shares have risen around 44%, bolting the company’s valuation above that of Amazon’s.
Shares of Intel rose 2% as part of a broader comeback among chip stocks. This comes on the heels of the company starting production of its most-advanced chip node known as 18A-P, a step that moves the company closer to securing a potential agreement to produce chips for Apple devices.
Alongside Intel, ASML advanced 5%.
Investors are looking ahead to the Fed delivering its latest policy decision at 2 p.m. It will be the first under new Chairman Kevin Warsh, who will also hold a news conference at 2:30 p.m. EDT.
Prices for the 10-year Treasury were frozen, keeping yields at Tuesday 4.43%.
Oil prices recovered $1.44 to $77.49 U.S. a barrel.
Gold prices hiked $7.70 to $4,362.10 U.S. an ounce.
