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WALL STREET BOUNCES BACK TO GREEN, POWELL IN THE WINGS

Wall Street headed higher on Monday, powered by the sort of rally with which investors are well acquainted; chips, FANGS and tech doing the heavy lifting.

All three major indexes ended the session green, bouncing off last week's losses, with Nasdaq .IXIC leading the pack with a 1.0% advance.

U.S. President Donald Trump's tariff du jour, an additional 25% levy on steel and aluminum imports, gave a friendly boost to Nucor NUE.N, Steel Dynamics STLD.O, Cleveland-Cliffs CLF.N, Century Aluminum CENX.O, Alcoa AA.N and U.S. Steel X.N, which gained between 2.2% to 17.9%.

In addition to tech .SPLRCT, chips .SOX and megacap momentum stocks .NYFANG - all helped by a near 3% gain in Nvidia NVDA.O shares - Dow Transports .DJI, considered an economical canary in the coalmine, had an excellent day.

Fourth-quarter earnings season has made it over the hump, with a majority of the companies in the S&P 500 having reported at a beat rate of about 76%, according to the most recent available LSEG data.

The rest of the week includes Federal Reserve Chair Jerome Powell's two-day testimony before congress, which will be parsed and dissected for the faintest signals regarding the central bank's near-term rate cut trajectory.

That trajectory could well be affected by economic data due later in the week, most particularly January consumer and producer prices (CPI, PPI) on Wednesday and Thursday, followed by the Commerce Department's retail sales report on Friday.

Analysts see core CPI cooling down to a 3.1% annual rate, with the headline figure hanging tough at 2.9%.

Retail sales are believed to have decreased 0.1% last month, with core retail sales (ex autos, gasoline, building material and food services) decelerating to 0.3%.

Here's your closing snapshot:

(Stephen Culp)

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FOR MONDAY'S EARLIER LIVE MARKETS POSTS:

Q4 US EARNINGS GROWTH NOW ESTIMATED HIGHEST IN 2024 - CLICK HERE

IN TRADE WAR II, THE HIGH GROUND HAS ITS ADVANTAGES, SAYS EVERCORE ISI - CLICK HERE

CONSUMER CREDIT BALANCES SURGE AS AMERICANS WHIP OUT THEIR PLASTIC - CLICK HERE

U.S. STOCKS SMELT SOME GAINS IN EARLY TRADE - CLICK HERE

SPOT GOLD'S HEART IS FAR FROM COLD - CLICK HERE

ASSESSING THE MARKET IMPACT OF A POSSIBLE UKRAINE CEASEFIRE - CLICK HERE

BANKS: NEXT STOP - SEPTEMBER 2008 HIGHS - CLICK HERE

TRUMP CHINA PLANS A POSITIVE FOR EUROPE DISCOUNT RETAILERS - CLICK HERE

EUROPE IN THE GREEN, BP TOP GAINER - CLICK HERE

EUROPE BEFORE THE BELL: SHRUGGING OFF TARIFF TALK - CLICK HERE

ALL TARIFFS, ALL THE TIME - CLICK HERE