Stock Market Today: Dow Jones Cruises to Record Altitude

The Dow set a fresh high in a calm but optimistic session, buoyed by dovish commentary by Fed Chair Jerome Powell.

A plane flies above the clouds
(Image credit: Getty Images)

The Dow Jones Industrial Average surged into record territory Wednesday, as more dovish language from the Federal Reserve and good news on the COVID front drove an unambiguously positive tone on Wall Street.

In testimony before Congress, Fed Chair Jerome Powell said the central bank's focus remained on economic recovery, and isn't in a rush to let interest rates rise.

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Kyle Woodley was long BA and Bitcoin as of this writing.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.