U.S. stocks made modest gains in choppy trading Monday, a day ahead of the much-anticipated Federal Reserve policy meeting.
The Fed is expected to raise interest rates 0.75% during the two-day meeting in an attempt to stifle inflation fears.
The Dow Jones Industrial Average rose 197.62 points, or 0.64%, to 31,019.68. The S&P 500 gained 26.56 points, or 0.69%, to 3,899.89, and the Nasdaq Composite was up 86.62 points, or 0.76%, to 11,535.02.
“We’re in a wait-and-see approach and markets are waiting for some kind of bullish or bearish catalyst to send us out of this trading range,” Adam Sarhan, CEO of 50 Park Investments, told CNBC. “The markets are struggling for direction and that’s the fundamental news.”