The SPDR S&P 500 Semiconductor ETF was up 0.9% as tech-related shares led equities higher on Monday. The S&P 500 was up 0.2%, building on Friday's record close, while the Nasdaq Composite jumped 0.9%, on track for its first record close since Nov. 11.

Monday closed up +0.24%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.29%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.12%. Stocks on Monday mainly settled higher, with the S&P 500 and Nasdaq 100 posting new all-time highs.

The S&P 500 and Nasdaq Composite were both headed for record closing highs on Monday, but things may get bumpier in the days ahead. The S&P 500 was up 0.3%, even though only 190 stocks in the index were on track to close higher.

"At present I lean toward supporting a cut to the policy rate at our December meeting," Fed Governor Christopher Waller said on Monday.

U.S. stocks are kicking off December by drifting around their record heights. The S&P 500 was up 0.2% in early trading Monday after closing its best month of the year at an all-time high. The Dow Jones Industrial Average was up 55 points and the Nasdaq composite was up 0.