--- description: Boosted by the S&P 500's impressive performance Thursday, the Dow Jones Industrial Average climbed 74.30 points, after Federal Reserve chairman Janet Yellen said the central bank would most likely continue tapering its bond-buying program title: Stocks Jump, S&P 500 Closes at Record High image: https://static.time.com/v3/assets/bltea6093859af6183b/blt471ec2ea7d73ad79/6986832d810bbbdff1c9035b/470679659.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [World](/section/world/) ## World Update your preferences in [Account Settings](/account/preferences/) Close * [stocks](/tag/stocks/) ## stocks Update your preferences in [Account Settings](/account/preferences/) Close # Stocks Jump, S&P 500 Closes at Record High by [David Winograd](/author/david-winograd/) ## David Winograd Update your preferences in [Account Settings](/account/preferences/) Close Feb 27, 2014 11:44 PM CUT  Traders work on the floor of the New York Stock Exchange in New York City. Traders work on the floor of the New York Stock Exchange in New York City.Spencer Platt—Getty Images by [David Winograd](/author/david-winograd/) ## David Winograd Update your preferences in [Account Settings](/account/preferences/) Close Feb 27, 2014 11:44 PM CUT U.S. stocks jumped Thursday as the S&P 500 [closed at a record high](http://www.cnbc.com/id/101451925 "undefined"). The S&P 500 rose 9.13 points (0.49 percent) to 1854.29, breaking its previous high of 1,848.38 set on Jan. 15. The Dow Jones Industrial Average climbed 74.30 points (0.46 percent), while the NASDAQ added 26.87 points (0.63 percent). The jump comes after Federal Reserve chairman Janet Yellen said the central bank would most likely continue tapering its bond-buying program as it assesses the impact of harsh winter weather on the economy. The bond-buying program was [designed to spur growth](http://online.wsj.com/news/articles/SB10001424052702304475004579275712875946496 "undefined") by lowering interest rates and encouraging spending as the economy struggled, but the Federal Reserve [announced reductions](http://www.cnbc.com/id/101373881 "undefined") to the program in December and again in January as the economy gradually improved. “Reduced tapering would be very negative to the market. We made a change in December to good news is good news,” Randy Frederick, a managing director at Charles Schwab, told CNBC. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/10404/stocks-jump-sp-500-closes-at-record-high/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/10404/stocks-jump-sp-500-closes-at-record-high/"},"headline":"Stocks Jump, S&P 500 Closes at Record High","datePublished":"2014-02-27T23:44:57.000Z","dateModified":"2026-02-21T06:30:52.892Z","description":"Boosted by the S&P 500's impressive performance Thursday, the Dow Jones Industrial Average climbed 74.30 points, after Federal Reserve chairman Janet Yellen said the central bank would most likely continue tapering its bond-buying program","url":"https://time.com/10404/stocks-jump-sp-500-closes-at-record-high/","keywords":["stocks","S&P"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt471ec2ea7d73ad79/6986832d810bbbdff1c9035b/470679659.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"David Winograd","jobTitle":null,"url":"https://time.com/author/david-winograd/"}],"articleSection":"World","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt471ec2ea7d73ad79/6986832d810bbbdff1c9035b/470679659.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Stocks Jump, S&P 500 Closes at Record High","caption":"Traders work on the floor of the New York Stock Exchange in New York City.","creditText":"Spencer Platt—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/world/","name":"World"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/stocks/","name":"stocks"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/10404/stocks-jump-sp-500-closes-at-record-high/","name":"Stocks Jump, S&P 500 Closes at Record High"}}]}] ```