Stocks Closed Sharply Higher as Trade Fears Eased

U.S. stocks Ended sharply higher on Monday, as trade war fears eased on reports that the United States and China were willing to renegotiate tariffs and trade imbalances. The Dow Jones Industrial Average rose 669.40 points, or 2.84%, to 24,202.60. The S&P 500 gained 70.29 points, or 2.72%, to 2,658.55. The Nasdaq Composite added 227.88 points, or 3.26%, to 7,220.54.

Oil prices settled lower Monday, with traders weighing trade tensions between the U.S. and China, as China marked the start of trading for its own crude futures contract. May West Texas Intermediate crude lost 33 cents, or 0.5%, to settle at $65.55 a barrel. May Brent crude slipped by 33 cents, or 0.5%, to $70.12 a barrel.