Stocks Up Broadly ahead of Fed Meeting

U.S. stocks ended sharply higher on Monday ahead of a two-day Federal Reserve meeting that begins Tuesday. The Dow Jones Industrial Average jumped 228.11 points, or 1.29%, to 17,977.42. The S&P 500 rose 27.79 points, or 1.35%, to 2,081.19. The Nasdaq Composite added 57.75 points, or 1.19%, to 4,929.51,

Foreigners sold long-term U.S. securities in January after buying them the previous month, data from the U.S. Treasury Department showed on Monday. Net sales of long-term U.S. assets were $27.2 billion in January after revised inflows of $39.2 billion in December.

McDonald’s restaurant workers from 19 U.S. cities said on Monday they have filed 28 health and safety complaints with federal and state regulators, alleging hazardous working conditions that led to severe burns from hot grills and fryer oil.

Oil prices fell to six-year lows on Monday amid concerns that a glut in the United States was outpacing already brimming storage facilities. On Monday, the price of West Texas Intermediate crude, the main United States benchmark, fell about 2 percent to about $43 per barrel, a six-year low, while Brent crude, the international benchmark, fell by about 2 percent to below $53 per barrel.