Stocks Ended Sharply Higher as Trade-war Fears Eased

U.S. stocks ended sharply higher on MOnday, as investors shrugged off worries of a global trade war that previously knocked equity benchmarks lower late last week.The Dow Jones Industrial Average rose 336.70 points, or 1.37%, to 24,874.76. The S&P 500 gained 29.69 points, or 1.10%, to 2,720.94. The Nasdaq Composite added 72.84 points, or 1.00%, to 7,330.70.

Oil prices settled higher Monday, following a reported drop in crude stocks at the U.S. storage hub in Cushing, Okla. April West Texas Intermediate crude rose $1.32, or 2.2%, to settle at $62.57 a barrel. May Brent crude added $1.17, or 1.8%, to $65.54 a barrel.

Ford Motor said it would temporarily layoff about 2,000 hourly employees at its Michigan assembly and stamping plants in Wayne, as the factories undergo retooling to build the Ranger pickup trucks and Bronco sport utility vehicles.