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Close Update: US Stocks Start Week With Slim Advance as Traders Await FOMC Meeting

US stocks rose slightly Monday as investors await the results on Wednesday of the Federal Open Market Committee's meeting.

Major market gauges posted slight advances as the market had little in the way of information to digest. Energy, consumer discretionary and financial stocks led the market higher. The S&P 500 gained 0.4%, while the Nasdaq Composite Index rose 0.3%. The Dow Jones Industrial Average also climbed, albeit its rise was held back by another slump in Boeing ( BA ) shares.

The Fed's two-day meeting is scheduled to conclude Wednesday and traders are expecting the committee to leave interest rates unchanged. Boeing slumped 1.8% after The Wall Street Journal reported that federal prosecutors and the Department of Transportation are looking into the development of the company's 737 MAX aircraft.

The NYSE Energy Index surged 1.4% as West Texas Intermediate crude oil for April delivery climbed 0.8% to $58.97 per barrel. The NYSE Financial Index rose 0.6%, while consumer discretionary companies in the S&P 500 rose 1%.

In economic news, the March National Association of Home Builders' housing market index came in at 62, unchanged from February. Economic news on Tuesday is also light, with factory orders scheduled for release at 10 a.m. ET.

US MARKETS

Dow Jones Industrial Average was up 65.23 points (+0.25%)

S&P 500 was up 10.46 points (+0.37%)

Nasdaq Composite Index was up 25.95 points (+0.34%)

GLOBAL SENTIMENT

FTSE 100 was up 70.91 points (+0.98%) to 7,299.19

Hang Seng Index was up 395.75 points (+1.37%) to 29,409.01

Shanghai China Composite Index was up 74.67 points (+2.47%) to 3,096.42

UPSIDE MOVERS

(+) LPTX (+3.56%) Phase 2 trial of DKN-01 in advanced gynecological malignancies show partial responses in patients and durable clinical benefit

(+) WP (+9.96%) Agrees to $43 billion takeover by FIS

(+) DARE (+128.26%) Reports positive results of exploratory study of DARE-VVA1 in vulvar and vaginal atrophy

DOWNSIDE MOVERS

(-) NIHD (-28.84%) Narrows Q4 loss, revenues slump

(-) ARPO (-71.29%) Phase 2b trial of AKB-9778 in diabetic retinopathy misses primary endpoint

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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