US benchmark equity indexes are on track to close higher on Monday, after US leading economic indicators fell by 0.3% in June, in line with expectations.

The Dow Jones Industrial Average was up 0.2% to 44,433.27, while the S&P 500 rose 0.3% to 6,317.37. Nasdaq Composite gained 0.5% to 21,006.68. Among sectors, communications led the gainers while energy rallied the decliners.

Verizon Communications (VZ) shares were up 4.4%, the top gainer on the S&P 500. The telecommunications giant raised the lower end of its full-year earnings growth outlook after logging better-than-expected second-quarter results.

AES (AES) was among the best performers on the S&P 500, up 2.6%, after Susquehanna raised its price target on the company's stock to $16 from $15 and maintained a positive rating.

Molina Healthcare (MOH) shares sank 4%, among the worst performers on the S&P 500. TD Cowen reduced its price target on the company's stock to $283 from $369 and maintained a buy rating.

The 10-year US Treasury yield was down 4.8 basis points to 4.38%, while the two-year rate decreased 2.1 basis points to 3.86%.

September West Texas Intermediate crude oil fell 0.4% to $65.80 a barrel.