Wall Street closed higher ahead of a big week for central banks, carrying the S&P 500 to its highest level in more than a year.
The benchmark index rose 0.9 percent Monday. The Dow added 189 points, while the Nasdaq rose 1.5 percent.
Stocks have been cruising on hopes the economy may avoid a recession and the Federal Reserve may soon take it easier on raising interest rates. Wall Street hopes the Fed will leave rates alone on Wednesday, but a hot inflation report on Tuesday could jeopardize that. Central banks in Europe and Japan also meet this week.
On Monday:
The S&P 500 rose 40.07 points, or 0.9 percent, to 4,338.93….