Stock market news live updates: Stocks rise as big earnings week begins

U.S. stocks gained Monday as investors braced for a jam-packed week of corporate earnings and contemplated the Federal Reserve's next rate move ahead of the central bank's

meeting later this month. The S&P 500 (^GSPC) advanced 0.9%, while the Dow Jones Industrial Average (^DJI) added about 240 points, or 0.7%. The technology-heavy Nasdaq

Composite (^IXIC) again led the way higher, rallying 1.5%. All eyes were on Salesforce (CRM) Monday morning after the news hedge fund Elliott Investment Management has

taken a multibillion-dollar activist stake in the software giant. Shares advanced 2.6% at the start of trading. “Salesforce is one of the preeminent software companies in

the world, and having followed the company for nearly two decades, we have developed a deep respect for Marc Benioff and what he has built,” Elliott managing partner Jesse Cohn

said in a statement. “We look forward to working constructively with Salesforce to realize the value befitting a company of its stature.” Elsewhere in early moves, Spotify

Technology (SPOT) shares rose roughly 5.8% early into the session after the company confirmed the music streaming platform will cut 6% of its workforce, adding to a growing bout

of cost-trimming layoffs across the technology sector. The moves Monday morning come after the S&P 500 and Nasdaq rallied toward a winning week on Friday, regaining

their footing after two downbeat sessions. The Dow lagged for the week, falling just less than 2%. Tech stocks have so far led an uptrend across U.S. equities that's kicked

off the year, with the Nasdaq gaining more than 6% in January so far.