US stocks rose on Monday as investors eyed expectations of a Federal Reserve interest rate cut later in the week.
The US Fed’s final rate decision of the year is due on Wednesday.
As of 10:05 a.m. Eastern time, the S&P 500 rose 0.3 percent, the Dow Jones Industrial Average rose 0.2 percent, and the Nasdaq Composite rose 0.5 percent.
Early on, the Dow Jones Industrial Average fell 2.3 points, or 0.01 percent, to 43825.76. The S&P 500 rose 12.7 points, or 0.21 percent, to 6063.79, while the Nasdaq Composite added 89.4 points, or 0.45 percent, to 20016.121.
Among megacap stocks, Google-parent Alphabet climbed 2.1 percent and Amazon.com added 1 percent.
Cryptocurrency shares rose as Bitcoin surged above $106,000 after President-elect Donald Trump hinted that he plans to create a US Bitcoin strategic reserve similar to his strategic oil reserve.
Coinbase rose 3.7 percent and bitcoin miner MARA Holdings rose 4.9 percent.
Honeywell International rose 1.8 percent after the equipment maker said it was exploring the possibility of spinning off its aerospace business.
Broadcom stock jumped 9.7 percent after posting better-than-expected profits.
In the bond market, the yield on the 10-year Treasury fell to 4.38 percent from 4.40 percent late Friday. The 2-year yield declined to 4.23 percent from 4.25 percent.
crude oil
Oil futures fell on Monday under pressure from weakness in consumer spending in China.
Brent crude futures fell 32 cents, or 0.4 percent, to $74.17 a barrel by 1300 GMT. U.S. West Texas Intermediate crude fell 27 cents, or 0.4 percent, to $71.02.
bullion
Gold prices rose on Monday supported by ongoing geopolitical concerns and lower US Treasury yields.
Spot gold was up 0.3 percent at $2,655.39 an ounce as of 9:56 a.m. ET (1456 GMT). US gold futures slipped 0.1 percent to $2,674.10.
Spot silver increased by 0.31 percent to $ 30.58 an ounce.
