U.S. stocks rebound as dovish Fed comments soothe rate-hike jitters
U.S. stocks rallied on Monday after Federal Reserve Gov. Lael Brainard stressed the need for caution as the Fed considers raising interest rates. The S&P 500 rose 31 points, or 1.5%, to close at 2,158 while the Dow Jones Industrial Average gained 238 points, or 1.3%, to end at 18,324. The Nasdaq Composite Index advanced 85 points, or 1.7%, to close at 5,211. Brainard's comments carried a great deal of weight as her speech was the last by a Fed official before the central bank goes quiet ahead of its Federal Open Market Committee meeting next week.
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