Dow Continues to Hit Record Highs

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The Dow set a record for a third straight day.

The S&P 500 advanced for a seventh consecutive week, its longest winning streak in six years, after the Fed hinted Wednesday it will likely slash interest rates next year. 

However, a senior Fed official today said that central-bank policy makers weren’t actively debating when to cut rates, an apparent effort to temper markets’ exuberant interpretation of Chair Powell’s recent comments.

The Wall Street Journal’s James Mackintosh cautions investors against following the crowd in betting on a soft landing — each of the past three years had a similarly strong consensus that proved entirely wrong.