NEW YORK – Stocks are closing higher as traders hope that the Federal Reserve will decide to continue its economic stimulus program when it meets this week.
The Standard & Poor's 500 index climbed 12 points, or 0.8 percent, to close at 1,639 Monday. Energy and technology stocks rose the most.
The Dow Jones industrial average rose 109 points, or 0.7 percent, to 15,179.
The Nasdaq composite rose 28 points, or 0.8 percent, to 3,452.
Traders think Fed officials will determine that the economy isn't recovering fast enough. That could influence the Fed to keep interest rates low to encourage borrowing and spending.
Two stocks rose for every one that fell on the New York Stock Exchange. Volume was lighter than average at 3.1 billion shares.