NEW YORK: The Dow and S&P 500 bolted to fresh records Thursday on continued momentum from Wednesday’s Federal Reserve decision and enthusiasm ahead of Alibaba’s expected initial public offering Friday.

The Dow Jones Industrial Average jumped 109.14 points (0.64 percent) to 17,265.99, its second record close in a row.

The S&P 500 gained 9.79 (0.49 percent) to 2,011.36, while the tech-rich Nasdaq Composite Index rose 31.24 (0.68 percent) to 4,593.43.

The record-high closes marked a continuation of the investor euphoria that set in Wednesday after the Fed signalled it would keep interest rates near zero well into 2015.

Art Hogan, chief market strategist at Wunderlich Securities, said investors were also charged up by the upcoming New York Stock Exchange launch of Chinese Internet giant Alibaba. The offering, potentially the biggest IPO ever, is expected Friday. The Alibaba IPO “feels as though it’s going to be a success,” Hogan said.

Positive sentiment over the Fed and Alibaba offset caution surrounding Thursday’s vote for Scottish independence from Britain. The market has been wary of the vote because of uncertainty about how Scotland would extricate itself from the centuries-old United Kingdom. —AFP