The S&P 500 rose Monday, as traders looked to build on the sharp gains seen last week following the Federal Reserve’s interest rate cut.

The broad market index added 0.1%, while the Nasdaq Composite hovered near the flatline. The Dow Jones Industrial Average gained 33 points, or 0.08%. The S&P 500 energy sector advanced more than 1%.

The moves come after a winning week on Wall Street that centered around the Federal Reserve’s decision to lower interest rates by 50 basis points, its first cut in four years. Despite some choppiness following the initial announcement, stocks rallied in the days following.

The Dow ended Friday at an all-time high close, which was notably above 42,000. All three of the major indexes added more than 1% for the week, during which the S&P 500 also reached new records.

Investors parsed fresh economic data on Monday, including a 15-month low reading for PMI manufacturing activity in the U.S. for August.

To be sure, stocks still will remain especially vigilant toward any economic data that could push back against hopes for a soft landing, according to Thornburg Investment Management portfolio manager Brian Burrell.

“We’re entering a period where there will be election risk, and the Fed will be looking at the data, particularly labor markets, as we see softening especially in the lower end of the U.S.,” Burrell said. “There’s going to be a balance of the easing of financial conditions with the rate cuts that we’re seeing with the softening labor market.”