Stocks Jumped on Hopes for Fed

U.S. stocks rallied on Tuesday as investors weighed the likelihood that the Federal Reserve will continue to emphasize low interest rates coming out of its policy-setting meeting Wednesday. At close, the Dow Jones industrial average rose 100.83 points, or 0.59%, to 17,132.97. The S&P 500 gained 14.85 points, or 0.75%, to 1,998.98. The Nasdaq Composite added 33.86 points, or 0.75 percent, to 4,552.76.

The Federal Open Market Committee’s two-day policy meeting, which began Tuesday morning, may offer the clearest insight yet as to wether the U.S. central bank will dial up rates sooner than expected.

The European Central Bank has come under fire from banks after asking them to sign secrecy agreements ahead of the results of sweeping stress tests that are probing the balance sheets of the eurozone’s largest lenders.

The Social Security Administration has resumed mailing statements to workers letting them know the estimated benefits they will get when they retire, the agency announced Tuesday.

UPS is going to make it a happy holiday for lots of people looking for work. The company plans to hire up to 95,000 seasonal employees this holiday season, nearly double last year’s total of 55,000.