Dow adds 500 points as stocks surge in final hour of trading; European markets close lower as investors look ahead to Fed, ECB meeting
The Dow Jones Industrial Average jumped Monday, clawing back some of the steep losses from the previous week, as traders looked ahead to a highly anticipated Federal Reserve meeting and new inflation data. The blue-chip Dow added 504 points, or 1.4%. The S&P 500 jumped 1.4%, and the Nasdaq Composite rose 1.2%.
A lift in Boeing shares pushed the Dow higher following reports that the airline is close to a deal with Air India. Elsewhere, energy stocks rose as oil prices steadied, following several weeks of declines.
The pan-European Stoxx 600 closed down 0.4% provisionally, with mining stocks shedding 1.6% to lead losses as all major bourses traded in negative territory and only oil and gas stocks made gains, adding 0.3%.
Germany’s Carl Zeiss Meditec added 5% after announcing it would hike its dividend from 0.90 euros to 1.10 euros in March.
Source: CNBC, Investing.com