Dow gains 0.6 percent, S&P 500 rises 0.2 percent

The S&P 500 and the Dow advanced yesterday as investors digested the U.S. Federal Reserve’s new strategy to adopt an average inflation target and restore the United States to full employment, as well as a promising development in the fight against COVID-19.

The Fed’s new



strategy also sent the treasury yields higher, which gave a lift to interest rate-sensitive financials.

The Dow Jones Industrial Average gained 0.6 percent and the S&P 500 rose 0.2 percent while the Nasdaq Composite index fell 0.3 percent.