Stock Market Watch

Stocks End Higher Ahead of Fed Meeting

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Stocks edged higher in trading on Monday even as market participants wait for Federal Reserve’s monetary policy statement, which is scheduled to be released on Wednesday following a two-day meeting. The Fed’s monetary policy statement is expected to provide hints on when the central bank plans to start easing its $85 billion a month bond buying program.

The Dow Jones ended the day 0.73% higher at 15,179.85, the S&P 500 ended the day 0.76% higher at 1,639.04, and the Nasdaq ended the day 0.83% higher at 3,452.13.

All sectors in the S&P 500 ended the day sharply higher. Energy sector led the gains, ending the day 1.43% higher. Industrials and Financials also rose sharply. Both sectors ended the day 0.84% higher.

Among the major movers on Monday included Frontline Ltd. (NYSE: FRO), which ended the day 27.81% higher at $2.39, Netflix Inc. (NASDAQ: NFLX), which ended the day 7.12% higher at $229.23, and Smithfield Foods Inc. (NYSE: SFD), which ended the day 0.85% higher at $33.08.

On the economic front, a report showed that homebuilder sentiment rose in June. Meanwhile, the New York Fed’s Empire State manufacturing index rose to 7.84 in June.

European markets ended mostly higher on Monday, with the FTSE 100 Index in London closing 0.35% higher, and the CAC 40 Index in Paris closing 1.54% higher. Asian markets also ended mostly higher overnight, with the Nikkei 225 Index in Japan closing 2.73% higher, and the Hang Seng Index in Hong Kong closing 1.22% higher.

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edliston
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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