The major averages finished higher to start the week following a big northeastern storm ahead of a big week of key earnings reports as well as the latest Federal Reserve interest rate decision. The Dow Jones Industrial Average rose 313 points or 0.64%. The S&P 500 rose 34 points or 0.5% while the Nasdaq Composite rose 100 points or 0.43%.

Outside the chips space, big cap tech performed well led by Meta and Apple up over 2%.  Microsoft was up a percent after introducing a new AI chip. In the tech space, chips were lower following lackluster guidance from Intel last week and fears of increase supply of Dram chips hitting Micron.

Interest rates were quiet ahead of the Fed meeting. The 10-year Treasury yield was down 2 basis points to 4.21%, while the 2-year Treasury note yield dipped 2 basis points to 3.59%. The 30-year Treasury yield fell more than 2 basis points to 4.80%.

In the commodity space, oil was quiet even as natural gas continued its surge up 24% today and up 50% in the last week. Gold continues its surge up half a percent, above $5000 an ounce for the first time in a long time. Silver was up nearly 3%. Crypto currencies were higher today.

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