NEW YORK (TheStreet) -- Stocks were moving higher on Monday, adding to record highs for the S&P 500 and Nasdaq achieved on Friday.
The S&P 500 was up 0.26%, the Dow Jones Industrial Average climbed 0.43%, and the Nasdaq added 0.38%.
Apple (AAPL) pulled the Dow higher ahead of its quarterly results after the closing bell. Investors will be keen to see whether growth in iPad sales has been sustained and they will monitor the scale of demand for larger iPhones in China. Apple shares added nearly 2%.
"The market has held to the gains made last week off of what has been, frankly, a wait-and-see overnight session with little data or concrete news to speak of," said CRT Capital's David Ader. "In the U.S. we wait for the FOMC with low expectations and really turn attention to (nonfarm payrolls) next week if we can sidestep overseas events."
The Federal Reserve will meet on Tuesday in a two-day meeting to discuss monetary policy. The central bank is widely expected to maintain its crisis-level interest rate policy for another month, though its statement on Wednesday will be closely examined for clues as to when a hike could occur.
Deutsche Bank (DB) tumbled 4.8% after reporting first-quarter profit half that of a year earlier as legal expenses ate into earnings. The German bank also unveiled a strategic overhaul which will target 3.5 billion euros in annual savings.
HSBC (HSBC) jumped 3.3% on reports it was considering spinning off its U.K. retail banking unit. The bank could make around $30 billion if a deal came to pass, according to the Sunday Times.