U.S. stocks moved higher on Monday, as investors looked towards a week that could determine the course of the markets for much of 2015.
Last week, the market fluctuated up and down with moves of 100+ points on four out of five days. Investors were spooked by a strong dollar, as well as oil prices, which now stand below $44 a barrel for U.S. crude (lowest level in six years) and $54 a barrel for Brent crude.
Many expect that this week’s Federal Reserve policy statement will drop the word ‘patient’ from its typical vernacular, signaling an impending interest rate increase as soon as June. For months now, experts have warned of an interest rate hike being the force that could stop this bull market in its tracks.
On Monday, investors turned an eye to perceived weakness in the dollar (which moved down slightly against the Euro) as everyone gears up for the mid-week Fed statement.
Here are the final numbers from Wall Street on Monday:
Dow Jones Industrial Average: 17,977.42 (+228.11)
NASDAQ: 4,929.51 (+57.75)
S&P 500: 2,081.19 (+27.79)