LITTLE ROCK, Ark. (Arkansas Business) -- Stocks ending higher on Monday as investors bet that the Federal Reserve, which is holding its monthly two-day meeting starting today to discuss monetary policy, will continue taking steps to stimulate the economy.
Markets had been volatile on worry that the Fed, which has been spending more than $80 billion per month to buy bonds and keep interest rates low, might begin to draw down those stimulus efforts. Investors are now betting that the Fed's stimulus plan will remain in place for a while longer.
Good economic reports also boost stocks
Also kicking markets into gear yesterday were two economic reports. A report on New York state manufacturing showed an increase in activity. And a survey of U.S. homebuilders said they were more optimistic about home sales than they have been in seven years.
Tankersley Food Service Co. expansion
Here in Arkansas, there is word of expansion in Van Buren. Tankersley Foodservice Inc., a food service company that won an Arkansas Business of the Year Award in February is spending a $4 million to add cold storage and dock space to its site at Van Buren Industrial Park.
The company, which has been in Arkansas for 70 years, is also improving its customer service offices and could add as many as 30 jobs.
Tankersley delivers fresh and frozen products to stores, restaurants and schools. It employs more than 220 people.