US stocks were mixed on Monday, with the tech-heavy Nasdaq and the S&P 500 rising ahead of a Federal Reserve interest rate decision and Big Tech earnings.
At 9:51 a.m. ET, the Dow Jones Industrial Average was down 140.72 points, or 0.35 per cent, at 40,448.62, the S&P 500 was up 11.18 points, or 0.20 per cent, at 5,470.28, and the Nasdaq Composite was up 116.46 points, or 0.67 per cent, at 17,474.34.
At the opening bell, the Dow Jones Industrial Average rose 76.37 points, or 0.19 per cent, to 40,665.71. The S&P 500 was higher by 17.45 points, or 0.32 per cent, at 5,476.55, while the Nasdaq Composite gained 86.51 points, or 0.50 per cent, to 17,444.39.
The Fed is slated to announce its latest policy decision on interest rates on Wednesday.
Shares of Nvidia, Alphabet, Amazon.com and Meta Platforms gained between 0.6 per cent and 1.5 per cent.
Tesla stock jumped 4.4 per cent after Morgan Stanley added the stock to its US autos list as a “top pick”.
Crypto stocks Coinbase Global, Riot Platforms and Marathon Digital rose between 2.4 per cent and 3.6 per cent after bitcoin prices jumped to a seven-week high.
Abbott Laboratories stock fell 4.1 per cent after a jury ordered the drugmaker to pay $495 million in damages following a trial that found that its formula for premature infants had caused a dangerous illness.
ON Semiconductor stock jumped 9.4 per cent after the company reported stronger profit for the second quarter.
The yield on the 10-year Treasury fell to 4.16 per cent from 4.19 per cent late on Friday.