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US stocks close higher ahead of Fed meeting

US stocks close higher ahead of Fed meeting
Market, rattled by recent banking crises, keeps close eye on central bank's rate hike call

By Ovunc Kutlu

ISTANBUL (AA) - Major US stock indexes closed higher Monday ahead of a key Federal Reserve meeting.

The Fed will kick off its two-day meeting Tuesday and announce its interest rate decision Wednesday as the US market, which has been rattled by multiple banking crises, keeps a close eye on the central bank's rate hike call.

The Dow Jones Industrial Average jumped 382 points, or 1.2%, to finish the day at 32,244. The S&P 500 added 34 points, or 0.89%, to 3,951.

The tech-heavy Nasdaq increased 45 points, or 0.39%, to close the first trading day of the week at 11,675.

The VIX volatility index, also known as the fear index, fell 5.3% to 24.15, while the 10-year US Treasury yield rose 2.6% to 3.487%.

The dollar index fell 0.4% to 103.31, while the euro added 0.5% to $1.0724 against the greenback.

Precious metals were in negative territory as the price of gold fell 0.5% to $1,978 per ounce and silver trimmed 0.3% to $22.54.

Oil prices rose more than 1%, with global benchmark Brent crude at $73.81 per barrel and US benchmark West Texas Intermediate crude at $67.82.

source: News Feed
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