Stocks close near flat line as traders await Fed policy meeting

(CNBC) -- Stocks closed near the flat line Monday afternoon as investors geared up for the Federal Reserve meeting scheduled for later in the week.

The S&P 500 climbed 0.07% to 4,453.53, while the Nasdaq Composite added 0.01% to finish at 13,710.24. The Dow Jones Industrial Average advanced 6.06 points, or 0.02%, to end at 34,624.3.

The Fed’s two-day policy meeting begins Tuesday. Traders are assigning a 99% chance that the central bank stays put when it releases its rate decision on Wednesday, according to the CME Group’s FedWatch tool, which gauges pricing in the fed funds futures market. The central bank will also release its market forecasts on Wednesday.

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