Eyes on the Fed, Dow Gains 239
Investors hope interest rates don't rise prematurely
By Newser Editors and Wire Services
Posted Sep 12, 2016 3:23 PM CDT
FILE - In this Oct. 8, 2014, file photo, a man walks to work on Wall Street, near the New York Stock Exchange, in New York. Global stock markets tumbled Monday, Sept. 12, 2016, as investors fretted over...   (Mark Lennihan)
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(Newser) – US stocks closed up solidly higher as traders hope the Federal Reserve will hold off on raising interest rates next week, reports the AP. A Federal Reserve official said Monday she's not eager to raise interest rates too soon, a possibility that had worried investors. Investors put money into safe-play investments like household goods makers and phone companies that pay high dividends. Technology companies also rose. AT&T rose 2.5% and Procter & Gamble gained 2.3%. The Dow Jones industrial average added 239 points, or 1.3%, to 18,325. The Standard & Poor's 500 index rose 31 points, or 1.5%, to 2,159. The Nasdaq composite climbed 85 points, or 1.7%, to 5,211. Bond prices rose. The yield on the 10-year Treasury note fell to 1.67%.