Stocks Finished Higher despite a Drop in Oil

U.S. stocks finished marginally higher on Monday, despite a drop in oil prices, as investors awaited further assurances that central banks will continue to support growth. The Dow industrials rose 15.82 points, or 0.09%, to 17,229.13. The S&P 500 shed 2.55 points, or 0.13%, to 2,019.64. The Nasdaq Composite gained 1.81 points, or l0.04%, to 4,750.28.

Oil futures settled with a loss of more than 3% Monday, giving up nearly half of last week’s gain. April West Texas Intermediate crude fell $1.32, or 3.4%, to settle at $37.18 a barrel on the New York Mercantile Exchange. May Brent crude on London’s ICE Futures exchange lost 86 cents, or 2.1%, to $39.53 a barrel.

Wall Street analysts have been touring Tesla’s massive factory in Fremont, California, and they’re returning with the same conclusion: Elon Musk’s electric-vehicle company is getting ready for something big. In a sign of this enthusiasm, Robert W. Baird & Co. upgraded its Tesla rating on Monday morning following a factory tour.

The Fresh Market Inc. agreed to be acquired by an affiliate of Apollo Global Management, APO 0.12 % LLC for $1.36 billion, completing the specialty grocer’s review of strategic alternatives.

Three American International Group Inc units will pay more than $9.5 million to settle allegations that they steered clients toward more expensive mutual fund share classes in order to collect more fees, U.S. securities regulators said on Monday.