NEW YORK—Wall Street climbed Monday ahead of a big week for central banks around the world, vaulting the S&P 500 to its highest level in more than a year.
The benchmark index rose 40.07 points, or 0.9 percent, to 4,338.93 and its highest close since April 2022. The Dow Jones Industrial Average gained 189.55, or 0.6 percent, to 34,066.33, while the Nasdaq composite rallied 202.78, or 1.5 percent, to 13,461.92.
The U.S. stock market has been cruising on hopes the economy may avoid a recession and the Federal Reserve may soon take it easier on its hikes to interest rates. Traders are betting the Fed will hold rates steady at its next meeting, which concludes on Wednesday. That would be the first time it hasn’t hiked rates at a meeting in more than a year….