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Post by bot on Sept 5, 2013 0:10:05 GMT -5
U.S. stocks gain on increased ease with Fed taper NEW YORK (MarketWatch) - U.S. stocks on Wednesday closed higher for a second session as investors anticipated votes on Capitol Hill on U.S. moves in Syria while tracking economic reports for clues to the Federal Reserve's monetary policy. "Most people believe it's a foregone conclusion that something will happen," Ron Florence, deputy chief investment officer for investment strategy, Wells Fargo Bank, said of the view that the Fed would start cutting monetary stimulus later this month. "Investors need to pay attention to the fact we're gong to be in a sustained and rising interest-rate environment for a while and that changes the game, or the way you manage your fixed income portfolio," he added. At 4 p.m. Eastern, the Dow Jones Industrial Average was up 98.07 points, or 0.7%, at 14,932.03. The S&P 500 index gained 13.36 points, or 0.8%, to 1,653.13. The Nasdaq Composite rose 36.43 points, or 1%, to 3,649.04. daily weblog archives www.usdemocrats.com/weblogcompendium usdemocrats.proboards.comtwitter www.twitter.com/usdemocratsgeo information portal www.1t23.com
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