Trader Richard Cohen works in a booth on the floor of the New York Stock Exchange Monday, June 17, 2013. US stocks were up Monday because investors think Fed leaders will determine that the economy isn’t recovering fast enough, and expectations mounted that it will make no sharp changes to its economic stimulus. AP PHOTO/RICHARD DREW
NEW YORK—US stocks surged Monday a day before the Federal Reserve begins meeting to review monetary policy, and expectations mounted that it will make no sharp changes to its economic stimulus.
At the close of trade, the Dow Jones Industrial Average was up 109.90 points (0.73 percent) at 15,180.08.
The broad-based S&P 500 advanced 12.34 (0.76 percent) to 1,639.07, while the tech-rich Nasdaq Composite jumped 28.57 (0.83 percent) to 3,452.13.