04:50 PM EST, 02/10/2025 (MT Newswires) -- US benchmark equity indexes closed higher Monday as traders evaluated the latest tariff threat by President Donald Trump and awaited key inflation data due later in the week.

The Nasdaq Composite rose 1% to 19,714.3, while the S&P 500 advanced 0.7% to 6,066.4. The Dow Jones Industrial Average increased 0.4% to 44,470.4. Energy led the gainers among sectors, while financials and health care closed lower.

Aluminum and steel stocks in the US jumped after Trump said Sunday he would impose 25% tariffs on metal imports. Last week, he delayed plans for 25% general import tariffs on Canada, which was the biggest supplier of aluminum to the US in 2023, ING said in a research note published Monday.

China recently announced a series of retaliatory tariffs against the US, while the Trump administration paused the announced tariffs on Mexico.

The US 10-year yield rose 1.4 basis points to 4.50% Monday, while the two-year rate was little changed at 4.28%.

The official US consumer inflation report for January is due Wednesday, with producer prices data scheduled for Thursday. Consumer inflation is expected to have increased 0.3% sequentially and 2.9% annually last month, according to a Bloomberg-compiled consensus. In December, the US consumer price index rose 0.4% month on month and 2.9% on an annual basis.

Late last month, the Federal Reserve kept interest rates unchanged following three consecutive cuts and said inflation remained "somewhat elevated."

US consumers' long-term inflation expectations rose in January, while the year-ahead unemployment outlook reached a multiyear low, the New York Fed said Monday.

Fed Chair Jerome Powell is scheduled to deliver his semiannual testimony to the Senate Banking Committee Tuesday and the House Financial Services Committee Wednesday.

West Texas Intermediate crude oil increased 2.1% to $72.47 a barrel Monday.

In company news, Rockwell Automation ( ROK ) affirmed its full-year earnings outlook as the industrial automation company's bottom-line results for the fiscal first quarter came in ahead of Wall Street estimates. The company's shares jumped nearly 13%, the second-top gainer on the S&P 500.

McDonald's (MCD) was the best performer on the Dow, up 4.8%, after the fast-food giant posted a surprise same-store sales increase for the fourth quarter.

ON Semiconductor (ON) shares slumped 8.2%, the steepest decline on the S&P 500 and the Nasdaq, after the company issued a downbeat quarterly outlook following a fourth-quarter miss.

Some 62% of S&P 500 companies had reported quarterly results through Friday, with earnings jumping nearly 13% year over year on 5.4% revenue growth, Oppenheimer Asset Management said Monday. Before the latest reporting season's start, Bloomberg put analysts' projected bottom-line growth at 7.3%, the brokerage said.

Moderna ( MRNA ) , Palo Alto Networks ( PANW ) , Applied Materials ( AMAT ) , Cisco ( CSCO ) , and Coca-Cola (KO) are among the major names scheduled to report later this week.

Gold increased 1.6% to $2,934.80 per troy ounce, while silver added 0.2% to $32.5 per ounce.