Stocks eked out narrow gains Monday to build on last week's strong rally, with the Nasdaq Composite notching its longest positive streak since January.

The Nasdaq jumped 0.3% to finish at 13,518.78, while the S&P 500 edged up 0.18% to end at 4,365.98. The Dow Jones Industrial Average inched up 34.54 points, or 0.1%, to settle at 34,095.86.

"What we're seeing is the market pausing to digest that very strong rally last week," said Adam Sarhan, CEO of 50 Park Investments. "You're in a situation where the market's just pausing to consolidate the recent move and wait for the next bullish catalyst to come out, and that could likely be one of the Fed heads, Powell or earnings."

The Nasdaq Composite notched seven days of wins for the first time since January. The Dow and S&P 500 rose for sixth straight day for the first time since July and June, respectively.

Nvidia added about 1.7%, boosted by optimism from Bank of America ahead of its earnings report. Bumble shares slipped 4.4%{

Bumble shares fall as CEO steps down

Bumble shares slipped nearly 7% following news that founder and CEO Whitney Wolfe Herd will step down from the online dating company early next year.

Lidiane Jones, CEO of Salesforce's cloud-based messaging platform Slack, will take the helm of the company in January, according to a company release Monday.

— Samantha Subin

CEO will step down SolarEdge Technologies

Yields also moved higher, reversing last week's trend, with the 10-year Treasury yield last up 9 basis points at about 4.653%.

Stocks are coming off their best week of 2023. The Dow notched its biggest weekly advance since October 2022, while the S&P and Nasdaq notched their best weeks since November 2022. A soft monthly jobs report also drove bond yields lower, giving a boost to equities.

"The stock market has had a strong start to November, and the move seems deserved in light of what we're seeing in most, though admittedly not all, of our sentiment indicators," wrote Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets.

"Generally, our view over the last month or so has been that if the surge in yields stopped soon, US equities could escape without incurring too much additional damage," she added.

This week ushers in a light period for economic data and company earnings, but seasonal tailwinds could help propel the recovery in stocks. November is the best-performing month for the S&P, according to the Stock Traders' Almanac. LPL Financial's Adam Turnquist noted that it also kicks off the best six-month return period for the market since 1950. The S&P has generated an average return of 7% from November through April since then, he said.

Earnings season is winding down, with more than 400 S&P companies having already reported quarterly financial results. Investors this week await updates from Walt Disney, Wynn, MGM Resorts and Occidental Petroleum.

Traders will also be watching Federal Reserve Chair Jerome Powell, who is scheduled to speak twice in the coming days. Last week, the central bank kept rates unchanged for a second straight meeting as bond yields tumbled. Investors are hoping the Fed's rate-hiking campaign may be nearing an end.

Stocks finish higher, Nasdaq notches longest streak since January

Stocks finished higher on Monday, building on last week's rally.

The Nasdaq Composite jumped 0.3% to finish at 13,518.78, while the S&P 500 edged up 0.18% to end at 4,365.98. The Dow Jones Industrial Average inched up 34.54 points, or 0.1%, to settle at 34,095.86.

— Samantha Subin

Don't expect the market rally to last, JPMorgan says

JPMorgan strategist Marko Kolanovic warned that the recent market rally, which featured last week the S&P 500's best weekly gain of 2023, will quickly reverse.

"We believe that equities will soon revert back to an unattractive risk-reward as the Fed is set to remain higher for longer, valuations are rich, earnings expectations remain too optimistic, pricing power is waning, profit margins are at risk and the slowdown in topline growth is set to continue," Kolanovic wrote.

"The bad news is good news zone may be quite narrow, as it is difficult to distinguish between a healthy slowdown and the initial stages of recession without the benefit of hindsight," he added. "With the market now pricing in a full ease by mid-2024, valuations rich and the increase in supply, we turn tactically short on 7Y USTs, after taking profit on longs in 5Y USTs, and look for a steeper curve at the long end."

— Fred Imbert

Cryptocurrencies rise after ether touches $1,900 for the first time since July

Altcoins rose on Monday after ether hit $1,900 over the weekend for the first time since July.

Litecoin added 3.4% while Ripple's XRP rose 9.1%. In the decentralized finance sector, the tokens tied to Polygon and Cardano advanced 4% and 6%, respectively. Uniswap added 6% as well.

Bitcoin and ether were flat after their prices spiked over the weekend, with bitcoin again touching the $35,000 level while ether reached $1,900 for the first time since July – when the two were holding onto gains from the initial bitcoin ETF-fueled rally this year.

"Alts are playing catch up to bitcoin today," Ryan Rasmussen, analyst at Bitwise Asset Management, told CNBC. "Historically we've seen bitcoin rally, then ether, then alts – and that pattern seems to be repeating as this bull market heats up."

Graeme Moore, head of tokenization at Polymesh Network, added that traders are "front-running the next bull market as they've done in previous cycles where small, illiquid altcoins rise sharply. Due to this renewed confidence and interest, traders are also seeing opportunities that they weren't seeing before."

— Tanaya Macheel

Earnings tracking in line with expectations, Bank of America says

Investors shouldn't be worried about third-quarter earnings, according to Bank of America.

Earnings per share for the period are tracking for a 4% beat versus consensus, which would be in-line with the firm's forecast and double the typical beat rate, wrote equity and quant strategist Savita Subramanian in a Monday note.

"Excluding Energy, earnings are +10% [year over year]," she said. "Mega cap Tech was a big contributor, but even excluding the Magnificent 7, earnings beat by 3%."

Amazon and Microsoft have been the biggest contributors to the S&P 500's EPS beat so far, while Pfizer and Moderna have been the biggest laggards, she added.

— Samantha Subin

Winning streak for regional bank stocks at risk

Regional bank stocks cooled off on Monday after a strong rally last week.

The SPDR S&P Regional Banking ETF (KRE) was down 1.7% in afternoon trading. If that decline holds, it will snap a five-day losing streak for the fund. KRE rose 12% last week.

Some of the KRE's largest holdings saw steeper falls on Monday. First Horizon fell nearly 3%, while Western Alliance dropped more than 4%.

— Jesse Pound

Banks report tightening lending standards, lower demand

Lending standards tightened while demand weakened, particularly for commercial and industrial loans, the Federal Reserve reported Monday in its quarterly Senior Loan Officer Opinion Survey.

"Over the third quarter, significant net shares of banks reported having tightened standards on C&I loans to firms of all sizes," the report stated, adding that a "significant" amount of banks reported lower demand.

Asked what kind of credit scores they were looking for these days, banks said they were less likely to extend credit for autos and credit cards to those in the 620-680 range and more likely for 720-plus.

—Jeff Cox

Stocks making the biggest moves midday

Check out the companies making headlines in midday trading.

Hilton Grand Vacations — The stock declined roughly 7% after the lodging company said it would acquire Bluegreen Vacations for about $1.5 billion. Hilton Grand Vacations also posted its third-quarter results, posting revenue of $1.02 billion, down from $1.12 billion a year earlier. The company also trimmed its full-year guidance for adjusted earnings before interest, taxes, depreciation and amortization.

Paramount Global — The entertainment giant tumbled 8% following a rare double-downgrade from Bank of America. The firm moved its rating to underperform from buy, noting there aren't any significant opportunities to sell parts of the business on the horizon. 

Bloomin' Brands – The restaurant operator saw shares dipped about 2% after Raymond James downgraded the stock to outperform from strong buy, citing weak traffic and rising beef cost pressures after Bloomin's third-quarter earnings release Friday.

— Hakyung Kim

Real estate stocks lag in S&P 500

Real estate stocks dragged on the S&P 500 in Monday's session.

The sector was the worst performing of the 11 in the index, dropping 1.7%. By comparison, the broad index was trading around flat.

Digital Realty Trust was the worst performer of real estate names in the index with a slide of 3.5%. Regency Centers and Camden Property saw the next biggest losses as each slipped nearly 3%.

Every real estate sector member traded down in the session.

— Alex Harring

Investors should compliment stocks with bonds, says Oppenheimer investment strategist

Stocks are still a good place for investors to put money into, even as bonds have made eye-catching moves in recent weeks, according to John Stoltzfus, chief investment strategist at Oppenheimer.

"We remain positive on equities and continue to see 'the end of free money' as a good thing for Main Street and Wall Street," he said in a Monday note to clients.

In what Stoltzfus described as a "new paradigm" amid recent yield moves and the Federal Reserve's monetary policy cycle, he said investors should practice "prudent' portfolio diversification. He said stocks remain attractive, while bonds are "complementary" but "not quite competitive with their potential for capital appreciation."

He pointed to information technology, consumer discretionary and industrials as his favorite sectors at the moment.

— Alex Harring

Oil rises slightly as Saudi, Russia maintain cuts, sanctions loom against Iran

Oil rose slightly on Monday after Saudi Arabia and Russia confirmed they would continue to cut production to cushion prices amid concerns over a softening economy and weaker demand.

Brent rose about $1.28, or 1.51%, to $86.17 per barrel, while West Texas Intermediate increased $1.39, or 1.73%, to $81.90.

The Saudis said Sunday that they will continue to slash 1 million barrels per day until the end of the year. The kingdom's daily production will stand at about 9 million barrels.

The Russians said they would continue to slash crude and petroleum product exports by 300,000 barrels per day. Moscow and Riyadh will review whether to deepen the cuts or increase production next month.

The market is also bracing for the U.S. to potentially ratchet up sanctions Iran. The House of Representatives overwhelmingly passed legislation Friday to harden sanctions on Iranian oil exports in response to the Hamas terrorist attacks on Israel.

Oil prices so far have not responded dramatically to the war in Gaza as the U.S. undertakes intense diplomacy in the region to keep the conflict from spreading.

— Spencer Kimball

Last week's drop in Treasury yields was part of an 'epic short covering rally,' Wolfe Research says

Investors are hopeful falling bond yields suggest equities have turned a corner, and are free to rally into year end. But, Wolfe Research is skeptical the move is sustainable.

"We believe that last week's drop in yields across the curve and sharp rebound in equity markets was driven by an epic short covering rally in the Treasury market that spilled over across asset classes," Chris Senyek, chief investment strategist at Wolfe Research, wrote in a Monday note.

The investment strategist noted that positioning showed Treasury shorts remained at "historically high levels" heading into last week, and that stocks were "susceptible to a bounce" after their recent selloff. In fact, stocks are coming off their best week in 2023 as Treasury yields dropped from their highs.

Given this, Senyek said he expects similar moves this week in markets, though he does not expect they will last. The strategist remains bearish on the U.S. economy.

"We believe that last week's sharp moves were most likely short-term trades, not new longer-term trends!" he said.

— Sarah Min

Fed Governor Lisa Cook issues caution about financial risks

Federal Reserve Governor Lisa Cook said Monday the financial system remains reasonably sound, though she warned of dangers in some areas.

In particular, Cook cautioned about nonbank financial institutions such as hedge funds and money markets that she said in prepared remarks "could play a key role in amplifying stress associated with tightening financial conditions and slowing economic activity."

The central bank official noted that household finances are in relatively good shape, though she said some stresses are hitting lower-income brackets. Cook's speech did not address monetary policy.

— Jeff Cox

Berkshire shares fall despite strong earnings

Class A shares of Berkshire Hathaway fell 1.7% on Monday even after Warren Buffett's conglomerate reported a big jump in third-quarter operating earnings.

The Omaha-based conglomerate's operating earnings — which encompass profits made from the myriad of wholly owned businesses such as insurance, railroads and utilities — totaled $10.761 billion last quarter. That's 40.6% higher than the $7.651 billion earned from the same quarter a year ago.

Berkshire was also sitting on a record amount of cash — $157.2 billion — as Buffett saw few dealmaking opportunities.

The stock is still up about 12% after retreating about 7% from its record high hit in September.

— Yun Li

Siegel says the Fed 'should be on high alert' for need to cut rates

Renowned market expert Jeremy Siegel thinks the Federal Reserve should prepare itself for the need to start cutting interest rates.

The Wharton School of Business professor told CNBC on Monday that Fed Chair Jerome Powell "has to be on high alert" following a series of weaker than expected economic data. Specifically, he cited reports last week that showed job creation is slowing down and the manufacturing economy has moved deeper into contraction.

"I'm not saying we're gonna get a recession or anything like that. But he's got to be very alert to slow down. If the data continues weak, he really does have to consider lowering rates next year, even though inflation is going to be sticky," Siegel said during a "Squawk Box" segment. Powell "really has to be truly two sided, because we do have two-sided risk right now and the downside is looming much bigger than it certainly did a week ago."

— Jeff Cox

Bumble shares fall as CEO steps down

Bumble shares slipped nearly 7% following news that founder and CEO Whitney Wolfe Herd will step down from the online dating company early next year.

Lidiane Jones, CEO of Salesforce's cloud-based messaging platform Slack, will take the helm of the company in January, according to a company release Monday.

— Samantha Subin

Stocks open higher after S&P 500's best week of 2023

Stocks opened higher Monday to start the week after the S&P 500 notched its best weekly stretch of the year.

The Dow Jones Industrial Average rose 71 points, or 0.2%. The S&P 500 and Nasdaq Composite gained 0.2% and 0.3%, respectively.

— Samantha Subin

These are the stocks making big moves in premarket trading

Check out the companies making headlines before the bell:

• Tesla — The electric vehicle stock ticked up 1.5% after a report from Reuters said Tesla plans to build and produce electric vehicles that will sell for 25,000 euros ($26,859) at a factory near Berlin. The move has been long anticipated as Tesla attempts to make more affordable EVs.
• Bluegreen Vacations — The vacation time share provider soared more than 100% after agreeing to a sale to Hilton Grand Vacations for $75 a share in cash in a deal expected to close in the first half of 2024.
• Paramount Global — Shares of the owner of CBS TV and Simon & Schuster slipped 3.7% after Bank of America downgraded the stock to underperform from buy. The investment firm warned that Paramount is less valuable if it isn't considering selling off some of its assets.

Read here for the full list.

— Pia Singh

Citigroup weighs job cuts

Citigroup is weighing job cuts of at least 10% across several of its major businesses, CNBC reported Monday, citing people familiar with the matter.

Executive positions could see cuts exceeding 10% as CEO Jane Fraser looks to eliminate regional manager and co-head positions.

The talks and overhaul, known internally as "Project Bora Bora" are in early stages, CNBC reported. Shares were marginally higher before the bell.

— Hugh Son, Samantha Subin

Tesla stock rises on plans to build 25,000-euro EV in Europe

Tesla is planning to build a €25,000 ($26,838) electric vehicle from a plant near Berlin, Reuters reported Monday. The move is the latest effort by the EV giant to further slash prices on its vehicles and produce a long awaited affordable model. Musk originally announced plans for a $25,000 EV in 2020 to be produced by 2023.

Shares of the Elon Musk-helmed EV company ticked up roughly 2% on the news. A source cited by Reuters did not provide a timeline as to when production of the vehicle would begin.

— Brian Evans

The Fed is done raising rates, says BCA Research

Don't expect more Federal Reserve rate hikes from here, according to BCA Research.

"Although the interest-rate outlook is uncertain, we stand by our expectation that the Fed is finished hiking," wrote Doug Peta, the firm's chief U.S. investment strategist. "We think a recession is nearly inevitable, however, and our best guess is that it will begin in the first half of next year, so we are preparing to turn defensive."

"We are already underweight equities and overweight fixed income over a twelve-month timeframe and look forward to aligning our tactical and cyclical recommendations before too long," Peta said.

— Fred Imbert

Singapore’s largest bank DBS beats forecast, quarterly profit jumps 17%

Southeast Asia's largest lender DBS Group reported a 17% jump in third-quarter profit on Monday, benefiting from a high-interest rate environment.

Shares of the lender rose 0.45% in early afternoon trading.

Net profit rose to 2.63 billion Singaporean dollars ($1.94 billion) during the quarter, compared to SG$2.24 billion a year ago.

It was higher that analysts' estimates compiled by LSEG, which predicted a quarterly profit of SG$2.5 billion for the July to September quarter.

The Singapore bank also declared a dividend of 48 Singapore cents for each ordinary share for the third quarter.

Click here to read the full story.

— Shreyashi Sanyal

South Korea stocks surge after temporary ban on short selling

South Korean stocks jumped after financial authorities said they will be re-imposing a ban on short-selling until the end of June 2024. Short-selling is when a trader sells borrowed shares to buy back at a lower price and pocket the difference.

The ban will restrict short selling of all Kospi, Kosdaq and Konex listed stocks. The curbs were lifted in May 2021 for trades involving the shares of large-cap companies, mostly included in the Kospi.

"We seek to fundamentally resolve the 'tilted playing field' between organizations and individuals," Financial Services Commission Chairman Kim Joo-hyun said in a press release.

The Kospi jumped 3.93%, while the Kosdaq surged 5.88%.

This comes after a report in mid-October said South Korea's stock market watchdog found two Hong Kong-based investment banks had engaged in naked short-selling, that was expected to have resulted in record fines. Naked short selling is when an investor shorts a stock or other security without borrowing first.

— Shreyashi Sanyal

CNBC Pro: Citi is bullish about one part of the semiconductor industry. Here are its top stock picks

An upturn in a corner of the semiconductor industry began in the second half of this year, according to Citi.

The jump in September's monthly semiconductor sales beat Citi's estimates. It was up 13% month on month to $49.6 billion, higher than the bank's estimates of $46.9 billion, the bank said.

CNBC takes a look at five of its top stock picks.

Subscribers can read more here.

— Weizhen Tan

CNBC Pro: Growth investor is underweight the Magnificent Seven, but likes one tech giant

The "Magnificent Seven" stocks — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla — have proved popular this year, but one growth investor says he is underweight the group.

"The Magnificent has done well and are poised to continue to do well because they have [a] fortress-like balance sheets and they're highly profitable. They used the past two years post Covid to get more efficient, but they also have tremendous opportunities ahead in terms of artificial intelligence," Jonathan Curtis told CNBC's "Squawk Box Asia" on Friday.

However, he said investors needed to be a "little bit more curious and more cautious" on the tech mega-caps -- and revealed his favorite with "tremendous growth potential."

CNBC Pro subscribers can read more here.

— Amala Balakrishner

Berkshire Hathaway posts jump in operating earnings and record cash pile

On Saturday, Berkshire Hathaway reported a big jump in third-quarter operating earnings and a record cash pile.

Berkshire's operating earnings totaled $10.761 billion last quarter, 40.6% higher than the number from the same quarter a year ago.

The Omaha-based conglomerate also held a record level of cash at the end of September — $157.2 billion.

— Yun Li, Tanaya Macheel

Stock futures open slightly higher

Stock futures rose slightly to begin trading Sunday night.

Futures tied to the Dow Jones Industrial Average rose 47 points, or 0.14%. S&P 500 futures gained 0.15% and Nasdaq 100 futures rose 0.13%.

All of the major averages are coming off their best week of 2023.

— Tanaya Macheel