Wall Street closes with gains pending Fed meeting

The Nasdaq the S&P 500 They rose on Monday as gains in shares in energy-related firms and Tesla boosted the indices as investors waited for a major meeting of the Federal Reserve (Fed) in the week.

The index Dow Jones it surpassed 36,000 points for the first time in history during intraday trading.

It is expected that the Federal Reserve (Fed) approves plans Wednesday to cut its $ 120 billion a month bond buying program launched to support the economy.

Investors will also focus on comments on the interest rates and the recent increase in inflation.

“This (meeting) is going to be relatively important,” said Paul Nolte, portfolio manager at Kingsview Investment Management. “We look forward to hearing about the downward path of bond purchases.”

The S&P 500 gained 8.29 points, or 0.18%, to 4,613.67 points, while the Nasdaq Composite it gained 97.53 points, or 0.63%, to 15,595.92. The Promedio Industrial Dow Jones advanced 94.28 points, or 0.26%, to 35,913.84 points.

All three indices reached all-time intraday highs during the session.

The actions of Tesla rose, boosting the consumer discretionary sector from the S&P 500.

The electric car maker’s shares have risen since the company’s market value topped $ 1 trillion last week.

Among the sectors of the S&P 500The energy sector led the increases, while the communications services group fell.

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Reference-www.eleconomista.com.mx

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