Stocks Closed at Records

U.S. stocks ended higher on Monday, with Dow Jones Industrial Average and the S&P 500 closing at a record, despite continued weakness in crude oil weighed on the energy sector. The Dow Jones Industrial Average rose 154.64 points, or 0.87%, to 17,959.44. The S&P 500 gained 7.89 points, or 0.38%, to 2,078.54. The Nasdaq Composite added 16 .04 points, or 0.34%, to 4,781.42.

The existing home sales in the United States dropped to a six-month low in the month of November after two consecutive months of strong surges. According to the National Association of Realtors, the existing home sales in the country declined 6.1 percent to an annual rate of 4.93 million units.

A contentious five-month buyout battle for Family Dollar Stores Inc. may be finally nearing an end, as the discount retailer’s shareholders are scheduled to vote Tuesday on the previously-announced merger agreement with smaller rival Dollar Tree Inc.

The largest U.S. pharmacy benefit manager said on Monday it has lined up a cheaper price for AbbVie Inc’s newly approved hepatitis C treatment and, in most cases, will no longer cover Gilead Sciences Inc’s treatments after trying for nearly a year to win a deeper discount.

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