Stocks closed higher Monday as traders hoped the Federal Reserve will decide to continue its economic stimulus program when it meets this week. The guess that the Federal Reserve will continue to prop up the economy sent stocks up.
The Dow average shed 77 points to end at 12,496 after another day of volatile trading around the globe. The Dow had been down as much as 120 points and up as much as 24 points. This follows triple-digit gains on Tuesday and losses on Monday.