Dow Closed at Record as Fed Upbeat Economy

U.S. stocks ended slightly higher on Wednesday with the Dow Jones Industrial Average closing at record level for
the first time this year, as the Federal Reserve gave an upbeat view of the economy’s prospects as it announced
another cut to its bond-buying program. The Dow Jones Industrial Average rose 45.47 points, or 0.27% to 16,580.84, gaining 1.6% over the past month. The S&P 500 gained 5.62 points, or 0.30%, to 1,883.95 and rose 1.4%
over the past month. The Nasdaq Composite added 11.01 points, or 0.27% to 4,114.56, but recorded a 1% loss for the month.

The Federal Reserve on Wednesday looked past a dismal reading on first quarter U.S. growth and gave a mostly
upbeat assessment of the economy’s prospects as it announced another cut in its massive bond-buying stimulus.

Yelp Inc. (YELP) on Wednesday reported a first-quarter loss of $2.6 million, or 4 cents a share, on sales of
$76.4 million. Yelp also estimates its second-quarter revenue will be between $85 million and $86 million.