"US Stocks Reach Fresh Highs as Dow Jones Records Third Highest Close in History"

The Dow Jones Industrial Average closed at its third highest level in history, just below its record close, as U.S. stocks reached fresh 2023 highs. Investors are awaiting the Federal Reserve's interest rate announcement and hoping that the latest inflation data won't impact rate cut optimism. The inflation report was mostly in line with expectations, but traders are now focused on gaining clarity on the Fed's thinking about rate cuts. The central bank is expected to leave borrowing costs unchanged, but investors are looking for confirmation that a rate cut is possible in 2024.