Stocks rise on Wall Street, holding near their record highs | Business
Stocks were mostly higherly on Wall Street Monday and remained near record highs set last week after investors welcomed an update from the Federal Reserve.
The central bank signaled that it will maintain low interest rates as the economy continues recovering from the pandemic. Markets have been choppy as investors tried to gauge how much and how quickly the Fed will ease its support. A speech by Fed Chair Jerome Powell on Friday may have helped ease concerns that a key factor in the market’s solid gains this year, low interest rates, will remain for the foreseeable future.
“When you look at it, the impression is things are good and Powell essentially said he’s not the one who’s going to take the punch bowl away,” said Brad McMillan, chief investment officer for Commonwealth Financial Network.
The…
