Stocks Rallied into the Close

U.S. stocks rallied into the close and finished with gains on Monday as investors shrugged off weak oil prices. The Dow Jones Industrial Average gained 123.07 points, or 0.72%, to 17,251.62. The S&P 500 added 15.60 points, or 0.78%, to 2,021.15. The Nasdaq Composite was up 45.84 points, or 0.93%, to 4,968.92.

Caterpillar Inc (CAT.N) was ordered to pay $73.6 million (£49.4 million) in damages in a lawsuit by a former supplier that accused the equipment manufacturer of misappropriating its trade secrets.

Brent crude has slumped to the lowest level since 2004 as oil producing countries from the Middle East to Russia and Iran flood the world with increased supplies. The price of oil in the US, or West Texas Intermediate (WTI) crude, fell 33 cents to $34.4 per barrel in New York exchanges.

Oracle Corp (ORCL.N) has settled allegations by the Federal Trade Commission that it failed to notify customers about unaddressed hacking dangers when it released security updates for the estimated 850 million U.S.

Toshiba warned Monday that it would incur its largest net loss ever as it tries to restructure a stable of unprofitable businesses. The Japanese company, whose financial struggles were laid bare this year in a $1.2 billion accounting scandal, said it would eliminate 7,800 jobs.

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