Pursuits
U.S. Stocks Rise Before Fed Policy Makers Meet to Debate Rates
- Rally in oil boosts energy; brewers spark deal optimism
- Fed officials to decide on interest rates Thursday afternoon
What Happens If the Fed Makes a Policy Mistake?
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U.S. stocks closed at their highest level in four weeks, with equities spurred on by a rally in energy shares and deal activity among beer brewers while Federal Reserve policy makers debated whether to raise interest rates.
Molson Coors Brewing Co. jumped 14 percent to a record after Anheuser-Busch InBev NV said it intends to make a bid for Molson’s joint-venture partner SABMiller Plc. Chevron Corp. and Exxon Mobil Corp. advanced more than 1.9 percent as oil climbed the most this month. Hewlett-Packard Co. gained 5 percent amid its plans to cut about 30,000 jobs. FedEx Corp. lost 2.8 percent after cutting its 2016 profit forecast.