US stock indices advanced on Monday as markets await the important Federal Reserves policy meeting this week.

The Federal Reserve will start holding its two-day policy meeting tomorrow to discuss later inflation data which rose past estimates.

The Feds official policy statement, in addition to Fed Chair Jerome Powells press conference will offer important clues on the likely path ahead for US monetary policies.

Theres a 99% chance the Fed will maintain interest rates unchanged according to the Fedwatch tool.

On trading, Dow Jones rose 0.4%, or 150 points to 38,864 as of 17:26 GMT, while SP 500 rose 0.8%, or 43 points to 5160, while SP 500 rose 1.1%, or 168 points to 16,141.