Stocks Ended Sharply Higher, Oil Futures Settled Lower

U.S. stocks closed sharply higher on Monday as investors were heartened by reports that more states were taking measures to loosen restrictions on local businesses and households. The Dow Jones Industrial Average jumped 461.46 points, or 1.70%, to 27,572.44. The S&P 500 gained 38.46 points, or 1.20%, to 3,232.39. The Nasdaq Composite rose 110.66 points, or 1.13%, to 9,924.75.

Crude-oil futures settled lower on Monday as extension of OPEC+ output cuts failed to stem oversupply worries. West Texas Intermediate crude for July delivery lost $1.36, or 3.4%, to settle at $38.19 a barrel. Brent oil for August delivery retreated by $1.50, or nearly 3.6%, to $40.80 a barrel.