The Dow Jones Industrial Average rose Monday as traders looked ahead to a highly anticipated Federal Reserve meeting and new inflation data.
The 30-stock index hiked 188.69 points to 33,665.15
The S&P 500 regained 8.33 points to 3,942.71
The NASDAQ Composite Index retreated 5.34 points to 10,999.28
Coupa Software and Horizon Therapeutics were among biggest movers on Monday after the companies announced they've agreed to be bought. Meanwhile, Cheesecake Factory shares dipped following a downgrade by Goldman Sachs.
The moves come as investors remain focused on inflation. Specifically, the November consumer price index will be released Tuesday, and traders will be looking for a sign that inflation is slowing.
The Federal Reserve has a two-day meeting starting the same day. The central bank is expected to announce another rate hike on Wednesday, though traders are anticipating a smaller move than in recent months.
Prices for the 10-year Treasury gained ground, lowering yields to 3.57% from Friday's 3.59%. Treasury prices and yields move in opposite directions.
Oil prices picked up $2.80 to $73.82 U.S. a barrel.
Gold prices lost $15.00 to $1,795.70 U.S. an ounce.