There were no major economic reports for investors to focus on.
The stock market has climbed to record levels this year as corporations have kept increasing their earnings and the Fed has kept up its $85 billion-a-month bond purchasing program. The Fed’s purchases have pushed up bond prices, lowered interest rates and encouraged investors to buy stocks.
Fed policymakers will meet next week, though few analysts are predicting that they will make changes to their bond-buying program. The meeting runs from Dec. 17 to Dec. 18.
Improvements in the labor market since September last year, when the Fed started its most recent round of stimulus, provided the most powerful argument for reducing bond purchases, St. Louis Fed President James Bullard said on Monday. Bullard, a voting member of the Fed’s policy committee, was speaking in St. Louis.
In government bond trading, the yield on the 10-year Treasury note fell to 2.85 percent from 2.86 percent Friday.
In commodities trading, the price of oil fell 31 cents, or 0.3 percent, to $97.34 a barrel. Gold rose $5.20, or 0.4 percent, to $1,234.20 an ounce.
Among other stocks making big moves:
— Twitter climbed $4.19, or 9.3 percent, to $49.14, its highest close since going public last month. The company said last week that it was developing its targeted ads based on user’s web browsing history.
— Edwards Lifesciences slipped $3.56, or 5.4 percent, to $62.73 after the Wall Street Journal reported that the company forecast lower sales of its Sapien heart valves.
— McDonald’s fell $1.08, or 1.1 percent, to $95.72 after the company said a key sales figure fell last month. Sales at U.S. restaurants open at least a year fell 0.8 percent.