A combination of estimate-beating earnings and expectations that the Federal Reserve will decide in its meeting this week to continue its stimulus led stocks to rise, pushing the S&P 500 to its third record high in as many sessions. “It still seems that the Fed has created this good news is bad news, bad news is good news scenario,” Randy Bateman, chief investment officer of Huntington Asset Advisors in Columbus, Ohio, said. “The anticipation is that the Fed will retain its purchasing of $85 billion in monthly Treasury and mortgage securities, which is going to continue to help the housing market. That will be taken fairly well by the market.”
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