NEW YORK (AP) — Investors have stopped worrying about the Federal Reserve. At least for now.
The U.S. stock market rose on Monday as investors judged that the economy still isn’t growing fast enough for the central bank to cut back on its stimulus program.
The Standard & Poor’s 500 index last month logged its first monthly decline since October after investors were unsettled by comments from Federal Reserve Chairman Ben Bernanke on June 19 that the Fed could ease back on its stimulus later this year and end it by the middle of 2014 if the economy continues to recover. A separate report on construction spending added to the picture of a gradually improving economy.