Stocks Jumped ahead of Critical Fed Meeting

U.S. stocks rose on Tuesday, led by a rebound in industrials, energy and technology shares, a day ahead of the start of a crucial Federal Reserve policy meeting. At close, the Dow Jones industrial average climbed 228.89 points, or 1.40%, to 16,599.85. The S&P 500 climbed 25.06 points, or 1.28%, to 1,978.09. The Nasdaq composite advanced 54.76 points, or 1.14%, to 4,860.52.

Fed policymakers will convene a two-day meeting on Wednesday and could decide to raise interest rates for the first time in close to a decade.

US industrial production fell in August on a large drop in car manufacturing that partly reversed its solid gain in July. The Federal Reserve reported on Tuesday that total industrial output fell 0.4 per cent in August after an upwardly revised 0.9 per cent rise in July.

United Parcel Service Inc (UPS.N) plans to hire up to 95,000 workers to handle additional business during the holiday season this year, the package delivery company said on Tuesday.