Stocks Closed Higher as Brexit Worries Waned

U.S. stocks closed higher on Monday, as recent polls showed support swinging back toward the U.K. remaining a member of the European Union ahead of a referendum. The Dow Jones Industrial Average rose 129.71 points, or 0.73%, to 17,804.87. The S&P 500 gained 12.03 points, or 0.58%, to 2,083.25. The Nasdaq Composite climbed 36.88 points, or 0.77%, to 4,837.21.

Minneapolis Fed President Neel Kashkari on Monday said Monday that the “base case” of the U.S. central bank is that there will be only “moderate direct effects” on the U.S. economy if Britain votes later this week to leave the European Union.

Oil prices rose 3 percent on Monday, settling higher for a second straight day. Brent crude futures’ front-month contract, August, settled up $1.48, or 3 percent, at $50.65 a barrel. U.S. crude’s West Texas Intermediate (WTI) futures gained $1.39, or 2.9 percent, at $49.37 a barrel for the July front-month.