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  • US Stocks Gain ahead of Fed Meeting

    Published on August 10, 2010

    US stocks gained on Monday as investors expected the Federal Reserve to restart some stimulus measures on this week’s meeting.

    With no major economic report scheduled to be released on Monday, investors were looking forward to the Federal Reserve’s Tuesday meeting, hoping to get more insight about the economy. As more and more signs showed the U.S. recovery was losing steam, some investors were expecting the Fed will restart some stimulus programs to help the economy gaining momentum..

    Stocks were also boosted by upbeat data from Europe. A latest report showed German exports jumped to their highest level since late 2008, adding to evidence that economic recovery in European countries was stronger than previous anticipated.

    In company news front, fast food giant McDonald’s on Monday posted its biggest monthly increase in U.S. sales in more than a year.

    The Dow Jones industrial average added 45.26 points, or 0.42 percent, to 10,698.82. The Standard & Poor’s 500 index gained 6.15 points, or 0.55 percent, to 1,127.79 and the Nasdaq was up 17.22 points, or 0.75 percent, to 2,305.69.

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