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US: Stocks surge ahead of Fed meeting


[NEW YORK] US stocks plowed higher on Monday as the dollar retreated and the market looked ahead to a Federal Reserve policy decision in the next two days.

The Dow Jones Industrial Average bolted up 228.11 points (1.29 per cent) to 17,977.42.

The broad-based S&P 500 jumped 27.79 (1.35 per cent) to 2,081.19, while the tech-rich Nasdaq Composite Index gained 57.75 (1.19 per cent) to 4,929.51.

The dollar's recent gains have raised worries about the drag on US multinationals, but on Monday, the euro rose slightly against the greenback, to $1.0590 from $1.0489 on Friday.