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- US stocks rose on Monday as investors looked ahead at the Fed's next rate move.
- Investors are pricing in a nearly 30% chance the Fed could cut rates by March.
- Traders also have their eye on Nvidia, which will report earnings on Tuesday.
US stocks rose on Monday as investors assessed the outlook for interest rates into 2024, kicking off the short trading week on a positive note.
Traders have raised their expectations for the Fed to cut rates sometime early next year, thanks to inflation running at a below-expected 3.2% yearly pace in October. Markets are now pricing in a 29% chance the Fed could trim interest rates 25 basis points by March, up from 28% on Friday and 10.5% a week ago, according to the CME FedWatch tool.