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McDonald's up after Q4 global comparable sales rise

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Fed Chair Powell to testify before Congress this week

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Indexes up: Dow 0.16%, S&P 500 0.64%, Nasdaq 1.16%

(Updates with afternoon trading levels)

By Shashwat Chauhan and Sukriti Gupta

Feb 10 (Reuters) - Wall Street's main indexes rose on

Monday, with most heavyweight technology stocks rebounding after

a steep fall last week, while steelmakers surged after U.S.

President Donald Trump said he would impose additional tariffs

on steel and aluminum imports.

Trump's latest trade escalation came on Sunday when he said

he would introduce 25% tariffs on all imports of steel and

aluminum into the United States, on top of existing duties on

the metals.

Tech stocks Nvidia ( NVDA ) rose 3.2%, while Microsoft ( MSFT )

and Alphabet climbed more than 1% each.

"There's still this underlying theme that people want to be

invested in tech stocks and AI," said Dennis Dick, equity trader

and market structure analyst at Triple D Trading.

"Those stocks continue to get bought on dips, (they)

continue to outperform overall."

Heavyweight technology stocks fell sharply on Friday after

Trump announced reciprocal tariffs on all countries, matching

the tariffs levied by them.

Two weeks ago, the stocks were hit by the surging popularity

of Chinese startup DeepSeek's cheaper AI model, and amid

increasing scrutiny of the billions U.S. tech giants have spent

developing the technology.

At 11:13 a.m. ET, the Dow Jones Industrial Average

rose 69.28 points, or 0.16%, to 44,374.63, the S&P 500

gained 38.90 points, or 0.64%, to 6,064.57 and the Nasdaq

Composite gained 226.95 points, or 1.16%, to 19,750.35.

Eight of the 11 S&P 500 sectors traded higher, with energy

stocks up 1.7%, tracking elevated oil prices.

The VanEck Steel ETF jumped 2.6%, with steel

producers such as Cleveland-Cliffs ( CLF ) advancing 11.7% and

U.S. Steel gaining 4%. Aluminum producer Alcoa ( AA ) was

up 2.3%.

U.S. Steel also got a boost after Japan's Chief Cabinet

Secretary said Nippon Steel ( NISTF ) was considering proposing a

bold change in its plan to buy the company.

Some earnings-driven moves also aided Monday's gains.

McDonald's jumped 5.1% after the burger chain posted a

surprise rise in its global comparable sales in the fourth

quarter.

Rockwell Automation ( ROK ) gained 11.1% after the

automation products maker posted a higher-than-expected profit

for the first quarter.

Coca-Cola, DoorDash ( DASH ), health insurer CVS

Health ( CVS ) and computer-networking equipment maker Cisco ( CSCO )

are some of the prominent companies set to report

results later this week.

Later this week, U.S. Federal Reserve Chair Jerome Powell is

due to testify before Congress, while a January consumer price

index reading is expected to be released in the early hours of

Wednesday, before Powell's testimony.

Expectations for the Fed's rate cuts to stay on hold in

March solidified after Friday's mixed U.S. employment report.

Advancing issues outnumbered decliners by a 1.82-to-1 ratio

on the NYSE, and by a 1.19-to-1 ratio on the Nasdaq.

The S&P 500 posted 12 new 52-week highs and 13 new lows,

while the Nasdaq Composite recorded 70 new highs and 135 new

lows.