FX.co ★ U.S. Stocks Finish Quiet Day Modestly Higher

Following their impressive uptick last week, stocks managed to achieve further progress during Monday's trading. Although the major averages showed some fluctuations throughout the session, they concluded the day with gains.

The Dow climbed by 146.43 points or 0.4 percent to reach 38,389.09, while the Nasdaq advanced by 55.18 points or 0.4 percent to hit 15,983.08. Additionally, the S&P 500 increased by 16.21 points or 0.3 percent, landing at 5,116.17.

The moderate gains on Wall Street were propelled by the persistent momentum from last week, which was largely driven by positive responses to positive tech earnings. Tesla (TSLA) shares soared by an impressive 15.3 percent after Chinese authorities removed certain restrictions on its vehicles.

However, the overall trading activity remained relatively subdued as traders anticipated the Federal Reserve's forthcoming monetary policy announcement on Wednesday. While interest rates are expected to remain the same, additional insights into rate prospects could emerge from the statement and Federal Reserve Chair Jerome Powell's press conference following the meeting.

Given recent economic data, expectations of an imminent rate cut have cooled off, with most anticipating rates will remain steady until at least September.

Traders also likely remained guarded due to the slew of earnings news expected this week and the upcoming release of the Labor Department's highly anticipated monthly jobs report.

Tobacco stocks exhibited a substantial increase in value for the day, with the NYSE Arca Tobacco Index climbing by 1.5 percent. Utility stocks also exhibited significant growth with a 1.4 percent increase in the Dow Jones Utilities average.

Other sectors, such as biotechnology, telecom, and commercial real estate, also experienced noticeable growth, while the majority of the other major sectors showed modest changes.

In international trading, most Asia-Pacific region stock markets generally moved upward on Monday, despite Japanese markets being closed for a holiday. China's Shanghai Composite Index increased by 0.8 percent, while Hong Kong's Hang Seng Index achieved a 0.5 percent uptick.

European markets, however, showed mixed movements for the day. The U.K.'s FTSE 100 Index rose slightly by 0.1 percent, while Germany's DAX Index edged down by 0.2 percent and the French CAC 40 Index decreased by 0.3 percent.

In the bond market, treasuries extended their recovery from last Friday. The yield on the ten-year benchmark note, which moves inversely to its price, declined 5.5 basis points to 4.614 percent.