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Jun 17, 11:58 AM EDT

Stocks rise on Wall Street ahead of Federal Reserve's policy meeting

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Are Stocks Bouncing Back?

NEW YORK (AP) -- Stocks are rising in midday trading as traders expect the Federal Reserve to continue its stimulus of the U.S. economy when it meets this week.

The Dow Jones industrial average was up 160 points, or 1.1 percent, at 15,230 just before noon Eastern Daylight time Monday.

The Standard & Poor's 500 index climbed 16 points, or 1 percent, to 1,643.

The Nasdaq composite rose 40 points, or 1.2 percent, to 3,464.

With few big company announcements or economic reports, investors were focusing on predictions for what the Fed will do during a two-day meeting starting Tuesday. Traders think Fed officials will determine that the economy isn't recovering fast enough. That could influence the Fed to keep interest rates low to encourage borrowing and spending.

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