Stocks on Wall Street have had a choppy day on Monday as traders wait for the Fed’s interest rate announcement on Wednesday.
Stocks on Wall St fall, indexes slip deeper into the red for the week
A choppy day of trading on Wall Street ended with stocks closing higher on Monday as investors brace for another big interest rate increase this week from the Federal Reserve.
The indexes swayed between modest gains and losses for much of the day before a burst of buying in the final hour of trading. The S&P 500 rose 0.7%, climbing back from a 0.9% slide. The Dow Jones Industrial Average rose 0.6% and the Nasdaq composite climbed 0.8%.
Technology stocks, retailers, banks and industrial companies helped lift the market. Apple rose 2.5%, Home Depot gained 1.6%, Bank of America rose 1.7% and United Airlines closed 3.3% higher.
Health care and real estate stocks fell, tempering gains elsewhere in the market. Pfizer fell 1.3% and Welltower slid 2.2%.