The Dow Jones Industrial average hit its highest point since December, 2007 Tuesday, closing up at slightly more than 69 points. The stock market was buoyed by widespread expectations that the Federal Reserve will announce another round of bond buying at the conclusion of the meeting of the Federal Open Markets Committee on Thursday and that the German Constitutional Court will reject a challenge to the legality of the European Stability Mechanism. Moody’s announcement that the U.S. might see another downgrade had little apparent effect on the market.
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