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Markets
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NEW YORK (TheStreet) -- Major U.S. stock markets pared gains Monday afternoon following a news report that the Federal Reserve is likely to address tapering of its monetary stimulus at its two-day meeting that ends Wednesday.

The S&P 500 gained 0.76% to 1,639.04, trading as high as 1,646.50 following better-than-expected manufacturing and housing reports which offered signs that the U.S. economic recovery is strengthening.

The Dow Jones Industrial Average added 0.73% to 15,179.85 while the Nasdaq tacked on 0.83% to 3,452.13.

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