Closing Bell: Goldman Sachs Leads Dow to Records; Stocks Rise Ahead of Fed Decision

A two-day selloff came to a quick end as markets rebounded back into record-breaking territory. The Dow Jones Industrial Average closed above previous record highs as tech stocks made a comeback. Foot Locker (FL) - Get Report was downgraded to HOLD from BUY at Argus. The firm said Foot Locker had a "heavy reliance" on Nike products and pointed out those sales had recently softened. Goldman Sachs Group (GS) - Get Report made a confident move higher in anticipation of a rate hike on Wednesday. Financials stocks, in general, have been buoyant ahead of that June meeting. Investors are confident the Fed will raise rates by 25 basis points. Facebook Inc.  (FB) - Get Report was the best performer of the FAANG stocks, which represent the social network as well as Amazon Inc. (AMZN) - Get Report , Apple Inc. (AAPL) - Get Report , Netflix Inc. (NFLX) - Get Report and Alphabet Inc. (GOOGL) - Get Report . Facebook had fallen more than 4% over the previous two sessions.