Monday Morning Roundup: What You Need to Know About Stocks and Fed Meetings

Here’s what’s shaking:

Stocks:

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U.S. stock futures are rising sharply ahead of this week's two-day policy meeting of the U.S. Federal Reserve.

Dow Jones futures are up 124 points to 15,112. S&P futures have added 14.3 points to 1,632.70. Nasdaq futures are up 29 points to 2,966.

Markets have been roiled by uncertainty for several weeks regarding the Fed's commitment to a massive bond-buying program that has kept interest rates low and money flowing in domestic and global markets.

The consensus appears to be that while those programs will end, it will be some time before they do, and that it will happen when the economy in better shape. The Fed wraps up its meeting Wednesday.

The National Association of Home Builders releases its housing market index for June on Monday.

Oil:

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The price of oil climbed to above $98 a barrel Monday amid concerns over an escalation in the civil war in Syria and as traders awaited a critical meeting of the U.S. Federal Reserve later in the week.

By early afternoon in Europe, benchmark oil for July delivery was up 43 cents to $98.28 a barrel in electronic trading on the New York Mercantile Exchange.

Speculation about upcoming policy decisions of the U.S. Federal Reserve also kept markets on edge.

Some investors worry that long-term interest rates could spike when the Fed tightens monetary policy, threatening the economic recovery. The Fed will start a two-day meeting Tuesday to discuss the central bank's next steps.

Brent crude, a benchmark for many international oil varieties, was up 26 cents to $106.19 a barrel on the ICE Futures exchange in London.