Stocks rose Monday as investors contemplated a potential slowdown in rate hikes from the Federal Reserve and braced for a busy week of earnings.
The Dow Jones Industrials picked up from where they left off Friday, adding 61.06 points Monday to 33,436.55.
The S&P 500 eked up 18.6 points to 3,991.61.
The NASDAQ Composite jumped 100.77 points to 11,241.21.
Investors weighed the possibility that the Fed is preparing to slow the pace of its inflation-fighting rate hikes. Economic data released last week showed a decline in wholesale prices and retail sales, along with commentary from central bank officials, seemed to signal a slowdown.
Remarks from Fed Governor Christopher Waller Friday seeming to favor a quarter percentage point rate increase at the next meeting lifted investors' hopes for a downshift. A Wall Street Journal report Sunday raised the possibility of a spring pause to rate increases — a sign that the Fed could be nearing the end of its rate hiking campaign.
Markets have priced in a 99.7% chance of a 25-basis point hike, according to CME Group data, which would bring the interest rate to a targeted range of 4.5%-4.75%.
Earnings reports could keep the market on edge, with about 40% of the Dow scheduled to release their latest financial results and offer more insight into how companies are weathering inflation and interest rates. Some big names on deck include Microsoft, IBM, Tesla, Visa and Mastercard.
Prices for the 10-year Treasury hesitated a bit, boosting yields to 3.52% from Friday's 3.50%. Treasury prices and yields move in opposite directions.
Oil prices gained 80 cents to $82.44 U.S. a barrel.
Gold prices doffed $7.40 to $1,920.80 U.S. an ounce.