The stock market got a big boost of confidence last week, as investors seemed to get more comfortable with the likely future course of monetary policy. Although most market participants expect the Federal Reserve to boost interest rates even further in the coming months, they're growing increasingly convinced that the central bank will have to reverse course within the next year or so in order to support the economy. That led the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) sharply higher late last week, and as of 9 a.m. ET Monday, futures on all three indexes were modestly higher.

A lot of investors have watched Warren Buffett closely in recent months, as his Berkshire Hathaway has bought up more and more shares of oil and gas giant Occidental Petroleum (NYSE: OXY). Berkshire confirmed its sizable ownership position in Occidental late last week, and perhaps because of some confusion among investors, its shares moved higher again. Yet the big mover on Monday among mega-cap stocks was in the healthcare field, as Bristol Myers Squibb (NYSE: BMY) made an announcement that had shareholders celebrating.

Shares of Occidental Petroleum were up more than 2% in premarket trading early Monday. The company has been in the spotlight all year because of the rising interest from Buffett and Berkshire in its stock, as well as because favorable energy markets have dramatically improved its financial performance.

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Source Fool.com