Stocks Ended Higher on Optimism over US-China Trade Talks

U.S. stocks closed higher on Monday, as investors watched for further signs of a thaw in the protracted trade dispute between the U.S. and China. The Dow Jones Industrial Average rose 98.19 points, or 0.42%, to 23,531.35. The S&P 500 advanced 17.75 points, or 0.70%, to 2,549.69. The Nasdaq Composite jumped 84.61 points, or 1.26%, to 6,823.47.

Oil futures rose on Monday, buoyed by optimism tied to trade talks between the U.S. and China as well as output reductions by major oil producers. WTI crude for February delivery added 56 cents, or 1.2%, to settle at $48.52 a barrel. March Brent crude added 27 cents, or 0.5%, to $57.33 a barrel.

Senior officials from China unexpectedly showed up for negotiations between Beijing and their counterparts in Washington in an effort to resolve longstanding trade disagreements that have triggered uncertainty in global markets.