Stocks Close Near Record Highs on Optimism Over Potential Fed Rate Cuts
• Dow Jones Industrial Average closed at a record high of 37,656.52 points, up 0.3% • S&P 500 edged up 0.1% to 4,781.58 points, just 0.3% below its record close • Stocks rose briefly after strong demand at 5-year Treasury note auction • Investors optimistic about potential Fed interest rate cuts in 2024 • Apple won legal victory blocking import ban on Apple Watch models in patent dispute