Stocks Ended with Solid Gains

U.S. stocks ended with solid gains on Monday, with the Dow jumped almost 200 points to open February, as traders eyed climbing crude prices and earnings from ExxonMobil. The Dow Jones industrial average jumped 196.09 points, or 1.14%, to 17,361.04. The S&P 500 rose 26.86 points, or 1.30%, to 2,020.85. The Nasdaq composite rose gained 41.45 points, or 0.89%, to 4,676.69.

President Barack Obama on Monday proposed a $3.99 trillion budget that drew scorn from Republicans and set up battles over tax reform, infrastructure spending, and the quest to prove which party best represents the middle class.

Apple is planning another large bond sale at a time when investors are paying near record premiums for high-quality bonds. The technology giant will sell a combination of bonds with maturities ranging from five years to 30 years, according to a filing with U.S. regulators. The company was originally trying to sell $5 billion in bonds, according to traders, but investor demand has been strong and Apple’s offering might go as high as $6.5 billion.