US Stocks Close Higher
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Hemera/Thinkstock(NEW YORK) — U.S. stock trading was volatile on Monday in anticipation of a two-day Federal Reserve policy meeting this week.
The Dow Jones Industrial Average, which had been up as much as 191 points earlier Monday, gained 110 points to close at 15,180. The Nasdaq Composite rose 29 points, closing at 3,452. The S&P 500 closed up 12 points to finish the session at 1,639.
Stocks picked up steam after a better-than-expected report on the health of the housing market. The National Association of Homebuilders reported that builder confidence soared to a seven-year high, while investors applauded the end of uncertainty over the Fed’s next move on bond-buying.
Markets have been roiled by fears that a massive bond-buying program that has kept interest rates low and money flowing may be nearing an end.
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