Investing.com — The S&P 500 edged higher on Monday, driven by gains in energy as investors braced for better-than-expected quarterly results this week from big technology companies and a Federal Reserve decision.

The gain was 0.4%, the gain was 0.6% or 191 points, the gain was 0.2%.

Energy tops the list of gainers

Energy stocks were the biggest gainers on the day led by gains in Halliburton Company (NYSE: ), Occidental Petroleum Corporation (NYSE: ), and . purlin Corp (NYSE: ), rose more than 2% after a better-than-expected quarter following record quarterly production in the Permian Basin.

“Although operational results were limited, in our view they were still positive, as they confirm improvements in Permian well performance and TCO. [Tengizchevroil] The projects remain on track,” UBS said in a note.

Energy stocks also received support from prices hitting April highs as supply cuts by OPEC will tighten market conditions.

Regional banks come together to help brighten the financial situation

Regional banks were in rally mode due to recent quarterly results from KeyCorp (NYSE: ), Huntington BankShares Incorporated (NASDAQ: ) and . Citizens Financial Group Inc. (NYSE:) Fixed Deposits have boosted sentiment in the sector.

pacwest bancorp (NASDAQ:), which has been under pressure until recently due to weakness in smaller banks following the banking crisis in May, rose more than 8% on Tuesday ahead of schedule.

Big tech ready to take off

Alphabet (NASDAQ: ) and Microsoft (NASDAQ: ) are set to begin reporting earnings for big tech after the market close on Tuesday.

Bullish bets on tech were jolted last week following declines in Tesla (NASDAQ: ) and Netflix (NASDAQ: ), but Wedbush says “the set-up is very different this week.”

Highlighting several positive themes, including “cloud strength, AI monetization, digital advertising stabilization, and a less cautious IT spending environment,” Wedbush said it sees a “clear bullish case for owning tech stocks heading into 2Q tech earnings season.”

Fed decision countdown

The Fed’s two-day meeting starting on Tuesday will now see a rate hike of around 0.25%, according to Investing.com’s Fed Rate Monitor tool.

The widely expected rate hike on Wednesday could possibly be the last rate hike, Morgan Stanley said, with the highest federal funds rate forecast for this year at 5.375%.

Treasury yields climbed on Thursday in anticipation of another rate hike, with the Treasury yield, which is more sensitive to Fed rate hikes, rising to 4.9%.