Major U.S. indexes were higher at midday Monday as oil prices plunged and investors prepared for earnings from big tech companies. The Dow, S&P 500, and Nasdaq all advanced.

Cruise and airline stocks, including Carnival Corporation (CCL) and Delta Air Lines (DAL), gained as they stand to benefit from lower fuel costs.

Shares of Albemarle (ALB) and other lithium producers jumped after the Biden administration gave final approval to a large lithium mine project in Nevada by Australia’s Ioneer.

Estee Lauder (EL) shares rose following reports Jane Lauder, granddaughter of the beauty products maker’s founder, is stepping down from her position as chief data officer and executive vice president of enterprise marketing, though she will remain on the company's board.

Oil industry stocks slumped along with crude futures. APA (APA), Diamondback Energy (FANG), and Halliburton (HAL) were among the worst-performing stocks in the S&P 500.

Boeing (BA) shares lost ground as the struggling plane maker announced a $19 billion stock sale to raise cash as its machinists continue their strike.

TSMC's (TSM) U.S.-listed shares fell following a report the chipmaker suspended sales to a Chinese chip designer after one of its chips was found on a processor from Huawei, which the U.S. restricted from receiving the technology over national security concerns. 

Gold prices were little changed. The yield on the 10-year Treasury note was higher. The U.S. dollar moved up on the yen, but declined versus the euro and pound. Trading in major cryptocurrencies was mixed.