Stocks rose Monday as investors contemplated a potential slowdown in rate hikes from the Federal Reserve and braced for a busy week of earnings.

The Dow Jones Industrials climbed 254.07 points to 33,629.56.

The S&P 500 gained 47.2 points, or 1.2%, to 4,019.81.

The NASDAQ Composite leaped 223.98 points, or 2%, to 11,364.41.

Shares of Tesla and Apple gained on hopes that a reopening in China would boost their businesses. Both big tech names recently grappled with temporary shutdowns and blows to production as the country dealt with surging COVID-19 cases.

Investors weighed the possibility that the Fed is preparing to slow the pace of its inflation-fighting rate hikes. Economic data released last week showed a decline in wholesale prices and retail sales, along with commentary from central bank officials, seemed to signal a slowdown.

Remarks from Fed Governor Christopher Waller Friday seeming to favor a quarter percentage point rate increase at the next meeting lifted investors’ hopes for a downshift. A Wall Street Journal report Sunday raised the possibility of a spring pause to rate increases — a sign that the Fed could be nearing the end of its rate hiking campaign.

Markets have priced in a 99.7% chance of a 25-basis point hike, according to CME Group data, which would bring the interest rate to a targeted range of 4.5%-4.75%.

Earnings reports could keep the market on edge, with about 40% of the Dow scheduled to release their latest financial results and offer more insight into how companies are weathering inflation and interest rates. Some big names on deck include Microsoft, IBM, Tesla, Visa and Mastercard.

Prices for the 10-year Treasury hesitated a bit, boosting yields to 3.53% from Friday’s 3.50%. Treasury prices and yields move in opposite directions.

Oil prices inched up three cents to $81.67 U.S. a barrel.

Gold prices recovered $3.60 to $1,925.10 U.S. an ounce.

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