Stocks ticked higher Monday in a volatile trading session ahead of the Federal Reserve’s two-day policy meeting that kicks off Tuesday.
The Dow Jones Industrial Average last traded 180 points, or 0.57% higher. The 30-stock index wavered on Monday between a 263-point loss at its lows and a high of 180 points. The S&P 500 and Nasdaq Composite gained 0.66% and 0.7%, respectively.
Yields pushed higher ahead of the Fed’s likely decision to raise its benchmark rate by another 75 basis points to snuff out inflation later this week, with the 10-year Treasury yield topping 3.51% and hitting its highest level in 11 years.
After some brief hope over the summer that the Fed may be done with its aggressive tightening campaign, investors have been dumping stocks again on fears the central bank will go too far and tip the economy into a recession.
Investors are focused on the Fed’s policy meeting slated to begin Tuesday, where the central bank is…