In a Friday Sept. 7, 2012, file photo, a specialist works on the floor of the New York Stock Exchange. Stocks slipped Monday, Sept 10, 2012, as troubling economic news from China and the U.S. outweighed optimism about more stimulus from the Federal Reserve.NEW YORK – Investors spent Tuesday preparing for two events sure to move markets this week: a Federal Reserve meeting and a court decision on whether Germany can help support its struggling neighbors. And if the stock market’s gains Tuesday are any sign, they expect both events to turn out well.
The Dow Jones industrial average rose 69.07 points to close at 13,323.36. The average of 30 large company stocks has already gained 1.8 percent to start September, a month which is usually dismal for stocks.
Bank of America led the 30 stocks in the Dow, rising 5 percent, or 45 cents, to $9.03.
Federal Reserve officials will gather for a two-day meeting on Wednesday. Many expect the Fed will announce a new effort to revive the sluggish economy Thursday afternoon.
On the same day the Fed starts its meeting, Germany’s high court is expected to rule on whether the country can participate in a European bailout fund. The court rejected a last-minute appeal to delay the decision on Tuesday.