US equity indexes closed higher Monday, lifted by growing expectations of a Federal Reserve rate cut in December and a surge in technology shares.

* The likelihood of a 25-basis-point interest rate cut in December rose to 80.9% on Monday, up from 71% on Friday, according to the CME FedWatch Tool.

* The Dallas Federal Reserve's manufacturing index dropped to minus 10.4 in November from minus 5.0 in October, signaling a deeper contraction in factory activity. The result fell short of economists' expectations for an improvement to minus 2.0, according to a Bloomberg survey.

* January West Texas Intermediate crude oil rose $0.86 to settle at $58.92 per barrel, while January Brent crude, the global benchmark, was last seen up $0.89 to $63.45.

* Broadcom (AVGO) shares rose 11%, the biggest gain on the S&P 500 and the Nasdaq. HSBC raised its price target on the stock to $535 from $400 and maintained its buy rating.

* Copart (CPRT) shares dropped 4.5% after JPMorgan lowered its price target on the stock to $45 from $50 and maintained its neutral rating.