Markets: News  

U.S. stocks shed most losses on Fed hopes

SAN FRANCISCO (MarketWatch) -- U.S. stocks shed most losses in afternoon trading Monday, as concerns over sluggish U.S. economic growth and severe strains on Europe's monetary union vied with hopes central bankers may soon do more to stimulate the global economy. The Dow Jones Industrial Average was off 15 points, at 12,104 after a brief foray onto higher ground. The S&P 500 was off 0.9 point, or 0.1%, at 1,277, also after a brief move higher. The Nasdaq Composite was up 6.5 points to 2,754. "The weak employment picture seems to have helped [investors] recognize that the storm is washing up on U.S. shores, making it all the more likely that the Fed will act this month," said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co.