US stocks gear up for third-straight record finish

By StocksFOXBusiness

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The Dow Jones Industrial Average and the S&P 500 both set record highs on Tuesday, and were on track to close in record territory for the third consecutive session on optimism about tax reform.

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This comes after U.S. President Donald Trump took to Twitter (NYSE:TWTR) this morning, stating:

‘Consumer Confidence is at an All-Time High, along with a Record High Stock Market. Unemployment is at a 17 year low. MAKE AMERICA GREAT AGAIN! Working to pass MASSIVE TAX CUTS (looking good).”

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In commodities, oil was also higher while safe haven gold suffered as investors’ risk appetite increased. On Wednesday, markets will look to the conclusion of the Fed’s two-day policy-setting meeting. It is widely expected that the Fed will increase interest rates.

According to the CME’s FedWatch Tool, the likelihood for a December rate hike stood at 87.6%.