Nasdaq breaks record-high set during dotcom boom

The S&P and Dow were at their highest levels since early June. The Fed said on Wednesday that the U.S. economy was likely strong enough to withstand an interest rate increase later this year but cut its economic growth forecasts for 2015 because of a weak start to the year. "Today's markets are higher on a combination of the data and the Fed signaling that it will begin raising rates this year but at a shallower pace," said Jack Ablin, chief investment officer at BMO Private B