Stocks bounced back from early losses Monday to close mostly higher, with the Dow Jones Industrial Average and S&P 500 each logging a fifth straight record close. Early losses were tied to weak data out of China and headlines surrounding the rapid Taliban takeover of Afghanistan, but equities bounced back in afternoon activity. The Dow
DJIA,
Federal Reserve officials are moving toward agreement on a timetable that would see the central bank begin scaling back its easy-money policies in about three months if the economic recovery continues, The Wall Street Journal reported Monday. The report, citing public statements and interviews, said a string of strong employment reports have bolstered the case for the Fed to announce its next meeting, on Sept. 21-22, its intentions to begin tapering its monthly asset purchases. The tapering could potentially begin as soon as its following meeting in November, the report said. Some officials have called for ending the purchases by mid-2022, according to the Journal. The Treasury market took the report in stride, with the yield on the 2-year Treasury note undefined down around 1 basis point at 0.205%, while the 10-year yield undefined was down around 1.5 basis points at 1.283%.