U.S. stocks closed higher on Monday as investors looked ahead to a key Federal Reserve meeting. Wall Street also cheered a big defense industry deal. The Dow Jones industrial average gained 63.01 points and posted its fifth straight record close. Boeing and Caterpillar contributed the most to the gains. The index finished the session at 22,331.35. The also closed at an all-time high of 2,503.87, rising 0.1 percent, as financials led advancers. The Nasdaq composite hit an intraday record before closing 0.1 percent higher at 6,454.64.

Major U.S. Indexes

The three major indexes also posted record highs last week, with the S&P breaking above 2,500 for the first time on Friday's close. "This is probably a continuation of what we saw last week," said Ryan Detrick, senior market strategist at LPL Financial. "Believe it or not, the Dow is on track for its fifth straight record close." "It's a tricky time of the year, but the fundamentals look strong," Detrick said, referring to the seasonal headwinds associated with the month of September.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York. Brendan McDermid | Reuters