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U.S. stocks rise ahead of expected interest rate hike by Fed

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Stocks closed higher on Wall Street after swaying between small gains and losses much of the day as investors brace for another big interest rate increase this week from the Federal Reserve

A choppy day of trading on Wall Street ended with stocks closing higher Monday as investors brace for anotherThe indexes swayed between modest gains and losses for much of the day before a burst of buying in the final hour of trading. The Standard & Poor’s 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%.

Healthcare and real estate stocks fell, tempering gains elsewhere in the market. Pfizer fell 1.3% and Welltower slid 2.2%.The yield on the two-year Treasury, which tends to follow expectations for Fed action, rose to 3.94% from 3.87% late Friday. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.49% from 3.45%.

 

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