Wall Street closes slightly higher after Fed policy decisions

NEW YORK, NY - AUGUST 27:  The New York Stock Exchange stands on Wall Street on August 27, 2013 in New York City. The Dow Jones Industrial Average fell 170 points on fears of a possible U.S. attack on Syria.  (Photo by John Moore/Getty Images)NEW YORK, NY - AUGUST 27: The New York Stock Exchange stands on Wall Street on August 27, 2013 in New York City. The Dow Jones Industrial Average fell 170 points on fears of a possible U.S. attack on Syria. (Photo by John Moore/Getty Images)

The S&P 500 and the Dow ended slightly higher on Wednesday, adding to their string of closing records, after the Federal Reserve signalled it expects another interest rate hike by year-end and disclosed timing for reducing its balance sheet.

The Dow Jones Industrial Average rose 41.79 points, or 0.19 percent to end at 22,412.59, its seventh straight record close.

The S&P 500 gained 1.59 points, or 0.06 percent, to 2,508.24, clocking its sixth record closing high in the last seven sessions. The Nasdaq Composite dropped 5.28 points, or 0.08 percent, to 6,456.04, with Apple Inc as its biggest drag.

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