04:33 PM EDT, 03/17/2025 (MT Newswires) -- US benchmark equity indexes closed higher on Monday as investors were optimistic ahead of the Federal Reserve's monetary policy decision due later in the week.

The Nasdaq Composite rose 0.3% to 17,808.7, while the S&P 500 increased 0.6% to 5,675.1. The Dow Jones Industrial Average was up 0.9% to 41,841.6. All sectors except consumer discretionary posted gains.

US Treasury yields were mixed with the 10-year rate losing about 1.6 basis points to 4.3% and the two-year rate was up 2.7 basis points to 4.1%.

May West Texas Intermediate crude oil increased 0.6% to $67.34 a barrel Monday.

In economic news, US retail sales missed Wall Street estimates with a decline in motor vehicle and gasoline comp components, data from the Census Bureau showed.

"Consumers are clearly becoming more discerning in their spending," BMO said. Separately, TD Economics said consumer spending is expected to be "much softer" this year amid concerns about an intensifying trade war that is adding to worries about inflation.

US homebuilder confidence unexpectedly declined in March, hitting a seven-month low due to tariff and macroeconomic pressures, as reported by the National Association of Home Builders and Wells Fargo.

"Builders continue to face elevated building material costs that are exacerbated by tariff issues, as well as other supply-side challenges that include labor and lot shortages," NAHB Chairman Buddy Hughes said.

In company news, Intel's ( INTC ) shares were up 6.8%, the second-best performer on S&P 500. The company's incoming chief executive, Lip-Bu Tan, is planning significant changes to the company's chip manufacturing and artificial intelligence strategies as part of turnaround efforts, Reuters reported, citing unnamed sources.

Blackstone's (BX) shares were up 4.9%. UBS Securities upgraded its rating to buy from neutral and have a price target of $180.

Vtv Therapeutics ( VTVT ) shares surged 53% after it said Monday that the US Food and Drug Administration has lifted a clinical hold on its cadisegliatin clinical program, which includes a phase 3 trial for type 1 diabetes.

Tesla (TSLA) saw the third-steepest decline on the S&P 500, down 4.8%. The electric vehicle maker is offering a free trial of its Full Self-Driving service in China, Reuters reported, citing the company's Chinese website.

Bon Natural Life's ( BON ) shares fell 57%. The company priced a $12 million offering of units at $1.44 apiece.

Gold gained 0.3 % to $3,009.60 per troy ounce, while silver was down 0.1% to $34.41 per troy ounce.