Stocks rose slightly to new records on Monday — the first trading day of November — after markets emerged from a historically tough seasonal period successfully.

The S&P 500 rose nearly 0.2% to 4,613.67, closing at an all-time high. For the year, the S&P 500 is up more than 22%.

Corporate earnings season dominated October amid solid profit results even with global supply chain concerns. About half of the S&P 500 companies have reported quarterly results and more than 80% of them beat earnings estimates from Wall Street analysts, according to Refinitiv.

Investors will also be monitoring the Federal Reserve’s two-day meeting Tuesday and Wednesday. The central bank is widely expected to announce that it will begin to unwind its $120 billion in monthly bond purchases and end the program entirely by the middle of next year.

October’s Institute for Supply Management’s manufacturing index fell to 60.8 from September’s 61.1. Economists were expecting the index to fall to 60.3. Any number above 50 is considered expansion.

Stock futures were slightly lower in overnight trading after the S&P 500 eked out a fresh record close Monday to kick off November.

The tech-focused Nasdaq Composite added 0.6% to 15,595.92 and also hit a closing record.

Investors are eyeing a number of potentially market-moving events this week. The Federal Reserve’s highly anticipated Federal Open Market Committee meeting takes place this week. The October jobs report drops Friday. Third-quarter earnings season continues.

Better-than-expected corporate earnings results boosted the U.S. stock averages to finish October at record highs, with the S&P 500 and Nasdaq posting their best months since November 2020.

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Plan A : Remain buy as long as oil price trades firmly above 83.0. Targets are 84.8 and 85.4.

Plan B : Consider short if oil price falls below 84.0. Targets are 83.4 and 83.0.