U.S. equities began the new trading week with gains at midday, with the S&P 500 and Dow reaching fresh highs ahead of Tuesday’s inflation report and more earnings reports . The Nasdaq was also higher.

VF Corporation ( VFC ) was the best-performing stock in the S&P 500 following a report the family that founded the firm supports activist investor Engaged Capital in its effort to shake up the owner of North Face and Vans brands.

Shares of Diamondback Energy ( FANG ) soared after the oil producer announced it is buying Endeavor Energy Partners for $26 billion to expand its reach in the Permian Basin.

Lowe’s ( LOW ) shares gained as JPMorgan raised its rating on the stock, suggesting Fed interest rate cuts could help boost sales at the home improvement retailer.

Hershey ( HSY ) shares declined as Morgan Stanley cut its rating on the stock, writing the chocolate maker’s margins could be hurt by falling consumer demand and soaring cocoa prices.

A downgrade from Barclays sent shares of Rivian Automotive ( RIVN ) lower. The bank cited the slowing sales of electric vehicles (EVs).

Oil and gold futures fell. The yield on the 10-year Treasury note was little changed. The U.S. dollar was higher versus the euro, pound, and yen. Most major cryptocurrencies traded in the green.