NEW YORK—U.S. stocks rose moderately on Monday in the quietest trading day of the year, as investors anxiously await outcome of the Federal Reserve’s assessment of the U.S. economy, which the Fed will unveil on Tuesday afternoon.
A total of 5.71 billion shares exchanged hands on Monday, the lowest volume of the year.
The Dow Jones Industrial Average gained 45 points, or 0.4 percent. The S&P 500 increased by 6 points, or 0.6 percent, while the Nasdaq Composite Index jumped 17 points, or 0.8 percent. Stocks, for the most part, traded within a narrow range on Monday.
Analysts are expecting the Fed to announce further monetary policy actions on Tuesday, at the conclusion of its meetings, to stimulate the U.S. economy. “A lackluster July employment figures last Friday is raising hopes that the Fed will be more accommodative in its policy stance tomorrow,” Credit Suisse wrote in a research report Monday.
Interest rates are already at historical lows—a strategy most economists expect the Fed to continue. But some analysts expect new measures, such as purchases of Treasury bonds.
The U.S. economic recovery has slipped in recent months as high unemployment figures sap consumer spending, a vital component of economic growth.
A total of 5.71 billion shares exchanged hands on Monday, the lowest volume of the year.
The Dow Jones Industrial Average gained 45 points, or 0.4 percent. The S&P 500 increased by 6 points, or 0.6 percent, while the Nasdaq Composite Index jumped 17 points, or 0.8 percent. Stocks, for the most part, traded within a narrow range on Monday.
Analysts are expecting the Fed to announce further monetary policy actions on Tuesday, at the conclusion of its meetings, to stimulate the U.S. economy. “A lackluster July employment figures last Friday is raising hopes that the Fed will be more accommodative in its policy stance tomorrow,” Credit Suisse wrote in a research report Monday.
Interest rates are already at historical lows—a strategy most economists expect the Fed to continue. But some analysts expect new measures, such as purchases of Treasury bonds.
The U.S. economic recovery has slipped in recent months as high unemployment figures sap consumer spending, a vital component of economic growth.
