Stocks Close Higher Ahead of Federal Reserve Meeting

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, while the Nasdaq composite and the Dow Jones Industrial Average added 0.2 percent and 0.4 percent, respectively.

Macy’s Soars as Investor Group Launches Bid

Macy’s saw a significant increase in its stock price, soaring 19 percent, following reports that an investor group is launching a bid to take the storied retailer private for $5.8 billion.

Market Updates on Inflation and Fed Meeting

This week, markets will receive updates on inflation at the consumer and wholesale levels before the Federal Reserve’s meeting concludes on Wednesday. The S&P 500 has been on a six-week winning streak and is up 20 percent for the year. Treasury yields remained steady.

Monday’s Market Performance

• 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.

Year-to-Date Performance

• 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.

Note: The views and opinions expressed in this article are those of the authors and should not be construed as investment advice. The Epoch Times does not provide personal finance advice and holds no liability for the accuracy or timeliness of the information provided.