LONDON: U.S. stocks closed higher on Monday, following positive momentum from Europe, as investors looked to Federal Reserve speeches and economic data for signals on the timing of a rate hike.
“The first quarter is behind us, whether it’s earnings or data,” said Art Hogan, chief market strategist at Wunderlich Securities, noting several economic reports for April expected in the next few days. “It’s all about the data that’s fresh and forward-looking.”
The S&P 500 ended higher, up 6.20 points, or 0.29 percent, at 2,114.49, a few points shy of its closing high of 2,117.69. Financials led seven sectors higher, with materials the greatest laggard.
