(CNBC) — U.S. equities closed higher on Tuesday as investors kept an eye on a key Federal Reserve meeting, while the Dow Jones industrial average closed in on another milestone.
The Dow closed at a record, rising more than 100 points, with IBM, Apple and Home Depot contributing the most gains. The S&P 500 also ended at an all-time high, rising 0.6 percent, with energy and information technology leading advancers. The Nasdaq composite outperformed, advancing 0.9 percent to a new all-time high.
The Fed began a two-day monetary policy meeting, with most market participants expecting the central bank to raise interest rates by 25 basis points. According to the CME Group's FedWatch tool, market expectations for a rate hike were above 90 percent.
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