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Stocks closed higher on Wall Street ahead of the Federal Reserve’s last meeting of the year.
The S&P 500 rose 0.4% Monday. The Nasdaq composite rose 0.2% and the Dow Jones Industrial Average added 0.4%. Macy’s soared 19% following reports that an investor group is launching a bid to take the storied retailer private for $5.8 billion.
Markets will get updates this week on inflation at the consumer and wholesale levels before the Fed’s meeting wraps up on Wednesday. Major stock indexes are on a six-week winning streak, with the S&P 500 up 20% for the year. Treasury yields held steady.
On Monday:
The S&P 500 rose 18.07 points, or 0.4%, to 4,622.44
The Dow Jones Industrial Average rose 157.06 points, or 0.4%, to 36,404.93.
The Nasdaq composite rose 28.51 points, or 0.2%, to 14,432.49.
The Russell 2000 index of smaller companies rose 2.86 points, or 0.2% to 1,883.68.
For the year:
The S&P 500 is up 782.94 points, or 20.4%.
The Dow is up 3,257.68 points, or 9.8%.
The Nasdaq is up 3,966 points, or 37.9%.
The Russell 2000 is up 122.44 points, or 7%.