U.S. markets closed higher Monday as economic data was positive or neutral with industrial production and manufacturing showing gains. The U.S. Federal Reserve said industrial production, for the first time, had topped its December 2007 , pre-recession peak. A Markit Economies report said U.S. manufacturing remained expansive in December, showing resilience in the wake of the federal government shutdown in October. Perhaps overshadowing current economic data, investors are adjusting market positions in anticipation of Wednesday's Federal Reserve policy announcement. The standard logic dictates that the better the news the closer the Fed gets to pulling back on its $85 billion per month asset purchasing program. Currently, "There's an acknowledgement that if they do taper ... they could do this very gradually ... without causing too much disruption," J.P. Morgan Private Bank portfolio manager Jonathan Shelon told the Wall Street Journal . The Dow Jones industrial average on Monday added 129.21 points, or 0.82 percent, to 15,884.57. The Standard & Poor's 500 added 11.22 points,,or 0.63 percent, to 1,786.54. The tech-heavy Nasdaq gained 28.54 points, or 0.71 percent, to 4,029.52. On the New York Stock Exchange , 2,085 issues advanced and 1,038 declined on volume of 3.1 billion shares traded. On foreign markets Japan's Nikkei 225 shed 250.20 points, or 1.62 percent, to 15,152.91. In Europe , London's FTSE 100 added 82.24 points, or 1.28 percent, to 6,522.20. The 10-year treasury note fell 3/32, yields falling to 2.881 percent. The dollar rose to 103.02 yen while falling against the euro, which traded at $1.376 . Gold was up $5.80 on the Comex division of the New York Mercantile Exchange at $1,240.40 per troy ounce. Silver added 37.1 cents or 1.89 percent to $19.975 . In after hours NYMEX trading, crude oil gained 65 cents to $97.25 per barrel. On the Chicago Board of trade, corn for March delivery gave up 2.5 cents to $4.23 per bushel. January soybeans added 9.75 to $13.3675 . March wheat shed 7 to $6.2175.
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