Stocks Close at Highest Level of the Year

Dow, S&P 500, Nasdaq all end the day higher
By Newser Editors and Wire Services
Posted Mar 29, 2016 1:16 PM CDT
Updated Mar 29, 2016 3:16 PM CDT
Traders Robert Charmack, left, and Michael Capolino work on the floor of the New York Stock Exchange, Monday, March 28, 2016.   (AP Photo/Richard Drew)

(Newser) – Stocks closed at their highest level of the year as investors welcomed the latest signal from the Federal Reserve that it would move slowly to raise interest rates. The market shook off an early loss Tuesday and moved higher after Federal Reserve Chair Janet Yellen said the central bank remains cautious about raising rates. It was the biggest gain for US stocks in more than two weeks. The Dow Jones industrial average climbed 97 points, or 0.6%, to 17,633. The Standard & Poor's 500 index added 18 points, or 0.9%, to 2,055. The Nasdaq composite rose 80 points, or 1.7%, to 4,846. (Read more stock market stories.)

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