Stocks Rebound After Monday Losses
Hemera/Thinkstock(NEW YORK) -- Stocks shook off Monday's declines ahead of this week's Federal Reserve meeting.
The Dow closed up 69 points, climbing to 13,323.36 The Nasdaq gained just a fraction of a point to close at 3,104.53. The S&P added four points, closing at 1,433.56.
The central bank could announce it will take new steps aimed to boost anemic growth. It's two-day policy meeting will wrap up on Thursday.
The nation's debt rating could take another hit if lawmakers fail to reach a deal on the federal budget, and House Speaker John Boehner isn't confident lawmakers will be able to do that in time. Moody's Investors Service says it will likely lower the U.S. grade.
Meanwhile, the Labor Department says the nation's employers posted fewer jobs in July than in June. And June's postings were revised downward. That follows word on Friday that payroll growth slowed in August, and more people gave up looking for work.
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