Stocks move higher as traders wait on the FedJune 18, 2013 @ 1:12 pm
NEW YORK (AP) - The stock market is closing higher as investors anticipate that the Federal Reserve will keep programs to support the U.S. economy in place.
The Dow Jones industrial average rose 138 points, or 0.9 percent, to 15,318 Tuesday.
The Standard & Poor's 500 rose 12 points, or 0.8 percent, to 1,651. All 10 industry groups rose.
The Nasdaq rose 30 points, or 0.9 percent, to 3,482.
The pace of home construction rose in May and builders applied for permits to build single-family homes at the fastest pace in five years.
Inflation was tame last month, giving the Fed leeway to keep up its stimulus. The Fed meets Tuesday and Wednesday.
Two stocks rose for every one that fell on the New York Stock Exchange. Volume was light at 3 billion shares.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Seattle native is only person ever cured of HIV and returns home to boost the cure
Back In Business
A temporary bridge span across the Skagit River is set to open Wednesday
High Altitude Upgrade
The state's highest outhouse atop Mount Rainier is getting a badly needed upgrade
Bonneville Media encourages site users to express their opinions by posting comments. Our goal is to maintain a civil dialogue in which readers feel comfortable. At times, the comments can descend to personal attacks. Please do not engage in such behavior. We encourage your thoughtful comments which: have a positive and constructive tone, are on topic, are respectful toward others and their opinions. Bonneville reserves the right to remove comments which do not conform to these criteria.