Closing Bell: Fed Sees Modest Growth; Dow, S&P 500 Rocket to Fresh Records

The Dow Jones Industrial Average resumed its rally with a bang, scoring its best gains of the year, rocketing above its 21,000 milestone, and securing a new record close. The S&P 500 also scored all-time highs. The Federal Reserve backed up recent data showing economic growth in its latest "Beige Book." The anecdotal reading of Fed districts showed modest to moderate growth with a few regions showing accelerating wages. McDonald's (MCD) - Get Report unveiled a strategy aimed at improving its customer experience and returning capital to shareholders. The world's largest burger chain plans to repurchase as much as $24 billion worth of shares by the end of this decade. Etsy (ETSY) - Get Report slumped as quarterly losses deepened. The crafts marketplace nearly quintupled its per-share loss over its quarter, even as revenue jumped 25%.