Economics
U.S. Stocks Trim Monthly Gains as Investors Await Policy Moves
- November jobs report, ECB meeting loom large this week
- Fed Chair Janet Yellen appears in front of Congress Thursday
The Final Stretch: How Will Stocks Finish Out 2015?
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U.S. stocks trimmed monthly gains, with the Standard & Poor’s 500 Index clinging to a slim November increase, as investors prepared for policy decisions from central banks while awaiting a slew of economic data this week.
The S&P 500 advanced this month as signs of a strengthening U.S. economy offset concerns that the Federal Reserve intends to raise interest rates this year, throttling back on stimulus that has underpinned the 6 1/2 year equities bull market. The rising prospects for tighter monetary policy boosted financial shares to a 1.7 percent gain in November, while utility stocks tumbled 2.8 percent as their dividend yields lose luster as bond rates rise.