Modest Advance for Wall Street

Updated from 4:09 p.m. EDT

Stocks in the U.S. were moderately stronger Monday as traders were in a buying mood ahead of this week's upcoming Federal Reserve rate decision.

The Dow Jones Industrial Average gained 63.56 points, or 0.46%, to 13,870.26, and the S&P 500 tacked on 5.70 points, or 0.37%, to 1540.98. The Nasdaq Composite added 13.25 points, or 0.47%, to 2817.44.

The major averages were able to build on a late-session rally that closed out the previous week. On Friday, the Dow rose 134.78 points to 13,806.70, and the Nasdaq was up 53.33 points at 2804.19.

Breadth was mixed to start the week. On the New York Stock Exchange 3.01 billion shares changed hands, as advancers topped decliners by a 6-to-5 margin. Volume on the Nasdaq reached 1.99 billion shares, with losers outpacing winners 8 to 7.

Airlines, transportation and banks stocks were among the worst performers of the day, while commodities and chip stocks gained ground.

The Amex Airlines Index, the Dow Jones Transportation Average and the KBW Bank Index all slipped 0.5%. The Philadelphia Gold & Silver Sector Index rose 1.7%, and the Philadelphia Semiconductor Sector Index added 1.3%.

The transportation group was again hindered by record oil prices, as the December crude contract topped $93 a barrel for the first time ever, rising $1.67 to close at $93.53. However, that didn't derail the overall market.