U.S. Stocks Rise Before Housing Data as Fed Officials Convene

Bloomberg (23/8) -- U.S. stocks rose, extending the biggest gain in the Standard & Poor’s 500 Index in three weeks, as investors awaited a housing report and Federal Reserve officials meet in Wyoming.The Standard & Poor’s 500 Index rose 0.2 percent to 1,659.92 at 9:30 a.m. in New York.The S&P 500 has gained 0.1 percent this week as investors weighed Federal Reserve minutes that showed almost all policy makers agreed with plans to reduce the pace of monthly bond purchases this fall if the economy continues to improve in line with forecasts.Fed officials, who are at a conference in Jackson Hole, Wyoming, today to discuss monetary policy, have been scrutinizing data to determine whether the economy is strong enough to reduce stimulus. Fed Bank of Atlanta President Dennis Lockhart told Bloomberg Television that he wouldn’t rule out a September move to start tapering as long as the economy’s performance justifies it.