Stocks posted solid gains Wednesday ahead of a closely watched decision by the Federal Reserve on whether or not to raise interest rates. Beer companies rose on word of a possible deal between two giant brewers, and energy stocks rose sharply following a big jump in the price of oil.
The Dow Jones industrial average rose 140.10 points, or 0.8 per cent, to 16,739.95.
The Standard & Poor’s 500 index added 17.22 points, or 0.9 per cent, to close at 1,995.31.
The Nasdaq composite rose 28.72 points, or 0.6 per cent, to 4,889.24.
For the week:
The Dow is up 306.86 points, or 1.9 per cent.
The S&P 500 index is up 34.26 points, or 1.8 per cent.
The Nasdaq is up 66.90 points, or 1.4 per cent.
For the year:
The Dow is down 1,083.12 points, or 6.1 per cent.
The S&P 500 index is down 63.59 points, or 3.1 per cent.
The Nasdaq is up 153.18 points, or 3.2 per cent.