NEW YORK: US stocks Monday jumped following a strong report on US industrial output and ahead of a much-anticipated US Federal Reserve policy meeting this week.
At the closing bell, the Dow Jones Industrial Average rose 129.02 points (0.82 percent) to 15,884.38.
The broad-based S&P 500 gained 11.23 (0.63 percent) at 1,786.55, while the tech-rich Nasdaq Composite Index rose 28.52 (0.71 percent) to 4,029.50.
US industrial output surged 1.1 percent in November, the Federal Reserve reported, with automobile manufacturing showing a fourth consecutive monthly gain.
The strong industrial output report came ahead of a two-day meeting of the Fed's monetary policy committee.
Some experts consider a Fed taper of its bond-buying program unlikely this week given that the central bank historically has avoided major policy decisions at its December meeting, said Bill Lynch, director of investment at Hinsdale Associates.
Lynch said stocks were well-positioned for a rally after the S&P 500 lost 1.7 percent last week.
"Maybe the market used this as an opportunity for investors who are underweight equities to add to their positions,"Lynch said.
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