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Fundstrat's Tom Lee said stocks should rally into year-end due to favorable seasonals and a "buy the dip" mantra among active fund managers.

(Bloomberg) -- US stocks broadly ended Monday’s session higher as traders geared up for interest-rate decisions by major central banks across the globe due later this week. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe S&P 500 rose 0.4% while the Nasdaq 100 gained 1.5% to notch another record high. Broadcom Inc. and Tesla Inc. were among the biggest gainers of the ses

NEW YORK (Reuters) -The Nasdaq closed at a record high on Monday and the S&P 500 also rose as investors gauged the latest economic data while looking toward the Federal Reserve's final policy announcement of the year later in the week to gauge the path of interest rates. Markets have almost completely priced in a rate cut at the conclusion of the Fed's two-day policy meeting on Wednesday, with a 95.4% chance for a cut of 25 basis points (bps), according to CME's FedWatch Tool. "Maybe the market was a bit oversold last week and with almost a 100% likelihood that the Fed will cut on Wednesday, the only outstanding question is what kind of rhetoric, what kind of notes will investors get regarding guidance," said Sam Stovall, chief investment strategist of CFRA Research in New York.

U.S. stock indexes drifted amid mixed trading Monday, ahead of this week’s upcoming meeting by the Federal Reserve that could set Wall Street’s direction into next year. The S&P 500 rose 0.4%, coming off its first losing week in the last four. The Nasdaq composite climbed 1.2% to a record, while the Dow Jones Industrial Average was a laggard and fell 110 points, or 0.3%.

Tesla stock’s end-of-year rampage rolled on, with shares hitting another new high based on optimism for Tesla's "autonomous opportunity" and a Trump-controlled executive branch.

CVS Health's Caremark, Cigna's Express Scripts and UnitedHealth Group's Optum control the majority of the U.S. pharmacy benefit market, with their parent companies also operating health insurance and pharmacy businesses. Pharmacy benefit managers negotiate drug costs with pharmacies and drug manufacturers and help build drug coverage lists for health plans, mostly on behalf of employers and the government.

The benchmark US stock measures were tracking in the green before Monday's opening bell as traders a

US private-sector output rose at the fastest pace since March 2022 in December despite a steepening

Ford Motor shares fell Monday after analysts at Jefferies downgraded the stock, pointing to inventory issues.

Last week's bond-market wobble hasn't damped bets on a year-end stocks rally, with more gains expected in 2025.