Stocks rebound from earlier losses in volatile trading ahead of the Fed decision, Dow gains 100 points
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Traders work on the floor of the New York Stock Exchange during afternoon trading on September 13, 2022 in New York City.
Michael M. Santiago | Getty Images News | Getty Images
Stocks rebounded from their earlier losses on Monday in a volatile trading session ahead of the Federal Reserve’s two-day policy meeting slated to begin this week.
The Dow Jones Industrial Average traded 126 points, or 0.41% higher, while the S&P 500 and Nasdaq Composite gained 0.29% and 0.23%, respectively.
Investors are focused on the Fed’s latest policy meeting slated to begin Tuesday. The central bank is expected to raise interest rates by another three-quarters of a point, though investors are also watching for guidance about corporate earnings before the next reporting season begins in October .
All 11 major S&P 500 sectors rose or traded flat, led to the upside by consumer discretionary, industrials and materials. Health care was the laggard, falling 1.3%.
Stocks slid last week as investors reacted to a hotter-than-expected inflation report and a dismal warning from FedEx about a “significantly worsened” global economy. The major averages posted their fourth weekly loss in five weeks and hovered near two-month lows.
Beyond the Fed meeting, there are just a few economic data releases on deck this week, including August housing starts on Tuesday and initial jobless claims on Thursday.
—CNBC’s Patti Domm contributed reporting.
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