The Nasdaq closed at a record high on Monday and the S&P 500 also rose as investors gauged the latest economic data while looking toward the Federal Reserve's final policy announcement of the year later in the week to gauge the path of interest rates.

U.S. stock indexes drifted through mixed trading ahead of a meeting by the Federal Reserve this week that could set Wall Street’s direction into next year.

Big tech shares like Apple, Alphabet, Tesla and Broadcom all hit record highs, lifting the Nasdaq to one, too. Dow slips again as Fed meets this week.