Dow ends at record high in light trade, focus on Fed

New York — US stocks edged up on Monday, lifting the Dow to another record closing high in light volume on Veterans Day while investors turned their focus to how soon the Federal Reserve may begin reducing stimulus.

Although stocks closed higher on Friday, a robust October jobs report rekindled expectations that the Fed may reduce its stimulus efforts sooner than expected. A Reuters survey showed that more US primary dealers now expect the Fed to trim its $85 billion of monthly bond purchases before March.

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