Stocks rose Monday to kick off the final trading week of August, with Wall Street looking to regain ground after a month of losses.
The Dow Jones Industrials came off its highs of the day, but were still higher 191.74 points to 34,538.64 Monday.
The S&P 500 index hiked 15.36 points to 4,421.07.
The NASDAQ index gained 52.29 points to 13,642.94.
Meta, Tesla and Apple traded slightly higher, while Nvidia lost nearly 1%.
Outside of tech, Shares of 3M popped 4.3% after a Bloomberg News report that the company was ready to settle lawsuits alleging some earplugs were faulty. Energy, industrial and real estate were the best-performing S&P 500 sectors.
Stocks are coming off a winning session following fresh remarks from Federal Reserve Chair Jerome Powell. On Friday, Powell pointed to some signs of continued economic growth and strong consumer spending, but indicated that the central bank would “proceed carefully” with additional hikes.
As of Monday morning, traders were pricing in a nearly 20% chance that the Fed will hike rates again at its upcoming September meeting, according to CME Group's FedWatch tool.
Prices for the 10-year Treasury gained a bit, lowering yields to 4.22% from Friday's 4.23%. Treasury prices and yields move in opposite directions.
Oil prices moved higher 41 cents to $80.24 U.S. a barrel.
Gold prices gained $9.70 to $1,949.60 U.S. an ounce.