Stocks closed broadly higher on Wall Street Monday after the market shook off a weak start as investors welcomed news of the Federal Reserve’s latest measure to support markets.
The central bank said it will begin buying individual corporate bonds to help keep lending markets running smoothly. That helped the S&P 500 erase an early loss of 2.5% to finish with a gain of 0.8%. It’s the latest set of swings for markets as a remarkable, weekslong rally shows some cracks.
The S&P 500 rose 25.28 points, or 0.8%, to 3,066.59.
The Dow Jones Industrial Average gained 157.62 points, or 0.6%, to 25,763.16.