US stock futures were steady at the start of the week as investors awaited the Federal Reserve's (Fed) policy meeting scheduled for this week.
The S&P 500 rose 0.5%, the Dow Jones rose 0.31%, while the tech-focused Nasdaq jumped 0.91%.
Market sentiment was also supported by a weak September Personal Consumption Expenditures (PCE) inflation reading, suggesting that the impact on core spending was limited.
In other news, five of the 12 voting members of the Federal Open Market Committee (FOMC) voiced opposition to further easing, while three members of the Board of Governors in Washington supported a rate cut.
The market is now pricing in an 88% chance of a 25 basis point rate cut on Wednesday, up from 67% last month.
Market attention is also focused on earnings reports from major companies including AutoZone, Oracle, Adobe, Broadcom, Costco and Lululemon which are due to announce results this week.
Meanwhile, key data this week includes the delayed October Job Openings and Labor Turnover Survey (JOLTS) report which will be released on Tuesday.
The report is expected to provide the latest information on hiring trends, layoffs and resignation rates.
