US STOCKS-S&P 500 racks up sharpest rise since July

lunes 12 de septiembre de 2016 16:27 GYT
 

* Fed Governor Brainard stands by dovish stance

* Fed policy-setting meeting scheduled for Sept. 20-21

* Apple is top boost to all three major U.S. stock indexes

* Indexes up: Dow 1.32 pct, S&P 1.47 pct, Nasdaq 1.68 pct (Adds comment, details on close of session)

By Noel Randewich

Sept 12 (Reuters) - U.S. stocks racked up their strongest gain in two months on Monday after Federal Reserve Board Governor Lael Brainard stuck to her dovish stance on interest rates and urged caution about removing monetary stimulus too quickly.

Brainard's speech followed earlier comments by Atlanta Fed Bank President Dennis Lockhart and his Minneapolis counterpart Neel Kashkari in which they suggested there was no urgency to raise benchmark U.S. rates.

"Today's new normal counsels prudence in the removal of policy accommodation," said Brainard, a permanent voting member and the last official scheduled to speak ahead of the Fed's policy-setting meeting on Sept. 20-21.

Traders trimmed their views on the likelihood of a September rate hike to 15 percent, from 24 percent on Friday, and for a December hike to 54.5 percent from 59.2 percent, according to the CME Group's FedWatch tool.   Continuación...