Major U.S. stock indexes were higher in afternoon trading Monday as investors prepare for earnings reports from major technology companies and the release of important economic indicators in the coming days.

The S&P 500 is on track to report 7% year-per-year earnings growth for the third quarter, according to estimates from FactSet.

Stocks rose at the start of the busiest week for corporate earnings, with traders also gearing up for three high-profile economic reports that will set the stage for the next Federal Reserve decision.

There are five mega-cap tech giants worth a combined $12 trillion set to report third-quarter earnings this week.