Yahoo Finance Stock market news today: US stocks close higher in countdown to Fed
US stocks, which are heading for their third month of straight losses, closed Tuesday's trading session higher as investors weighed fresh consumer confidence data and looked ahead to the Federal Reserve's upcoming policy decision on Wednesday.
The benchmark S&P 500 (^GSPC) jumped about 0.7% while the Dow Jones Industrial Average (^DJI) and tech-heavy Nasdaq Composite (^IXIC) each climbed 0.4% and 0.5%, respectively.
Bonds rallied after the US Treasury cut its estimate of how much the government would need to borrow in the fourth quarter, easing some pressure on stocks. The 10-year Treasury yield (^TNX) finished the trading day flat to trade around 4.87%.
Fed policymakers have hinted that the recent surge in Treasury yields could be a factor in their decision making, given its tightening effect. Investors are highly focused on whether the central bank will hold interest rates steady, as most analysts expect, or hike at their meeting starting Tuesday.
Read more: What the Fed rate-hike pause means for bank accounts, CDs, loans, and credit cards
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