US equities were mixed on Monday as investors weighed expectations of a Federal Reserve rate cut on Wednesday against ongoing uncertainty over the 2026 policy path. Sticky inflation reinforced expectations that policymakers may act cautiously, keeping markets on edge ahead of updated FOMC economic projections. In early trading, the S&P 500 rose 0.1% to 6,870, its highest level since late October. The Nasdaq added about 0.5%, while the Dow Jones slipped roughly 60 points from a one-month high. Elsewhere, tech valuations will be in focus this week, with Broadcom and Oracle set to report earnings. Among individual movers, Confluent surged 29% following reports that IBM is in advanced talks to acquire the company for about $11 billion. Tesla slipped 1.5% after Morgan Stanley downgraded the stock to equal weight from overweight. Carvana jumped more than 7% after S&P Dow Jones Indices announced the online used-car retailer will join the S&P 500.