NEW YORK, Oct. 29 (UPI) -- U.S. stocks rose Tuesday with the Standard & Poor's 500 and Dow Jones industrial average each closing at a record high.
Part of the recent gains, analysts say, is due to anticipation of the Federal Reserve maintaining its quantitative easing program. In that sense, the upward movement is a correction given fears of a tapering off of that program that took hold in late June never came to pass.
The Dow added 111.42 points, 0.72 percent, to close at 15,680.35.
The Nasdaq closed at 3,952.34 points, adding 12.21 points or 0.31 percent.
The Standard & Poor's 500 picked up 9.84 points, 0.56 percent, to finish trading at 1,771.95.
The Nikkei 225 index in Tokyo shed 70.06 points, 0.49 percent, to close at 14,325.06.
In London, the FTSE 100 added 48.91 points, or 0.73 percent, to finish trading at 6,774.73.
On the New York Stock Exchange, 1,874 stocks advanced while 1,181 declined on volume of 3.3 billion shares.
On currency markets, the euro traded at $1.3744 and the dollar fell to 98.19 yen.
On the Comex division of the New York Mercantile Exchange, gold lost $7.50 to $1,344.70 per troy ounce.
Silver lost a fraction of a cent, closing at $22.535 per ounce.
Ten-year benchmark treasuries rose 4/32 to yield 2.509 percent.
On the Chicago Board of Trade, corn for December delivery gained 1 1/2 to $4.32 1/4 per bushel. Soybeans for November added 6 3/4 cents to $12.78. December delivery wheat added 3/4 to $6.81 3/4.