Stocks closed higher on Wall Street ahead of the Federal Reserve’s last meeting of the year.
The S&P 500 rose 0.4 percent Monday. The Nasdaq composite rose 0.2 percent and the Dow Jones Industrial Average added 0.4 percent. Macy’s soared 19 percent following reports that an investor group is launching a bid to take the storied retailer private for $5.8 billion.
Markets will get updates this week on inflation at the consumer and wholesale levels before the Fed’s meeting wraps up on Wednesday. Major stock indexes are on a six-week winning streak, with the S&P 500 up 20 percent for the year. Treasury yields held steady.
On Monday:
The S&P 500 rose 18.07 points, or 0.4 percent, to 4,622.44.
The Dow Jones Industrial Average rose 157.06 points, or 0.4 percent, to 36,404.93.
The Nasdaq composite rose 28.51 points, or 0.2 percent, to 14,432.49.
The Russell 2000 index of smaller companies rose 2.86 points, or 0.2 percent to 1,883.68.
For the year:
The S&P 500 is up 782.94 points, or 20.4 percent.
The Dow is up 3,257.68 points, or 9.8 percent.
The Nasdaq is up 3,966 points, or 37.9 percent.
The Russell 2000 is up 122.44 points, or 7 percent.
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