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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
Eyes on the Fed, Dow Gains 239
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 the possibility of an imminent U.S. interest rate hike and reacted to the weekend health problems...   (Mark Lennihan)

(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%. (Read more stock market stories.)

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