Stocks Ended Sharply Higher as Silver Prices Surged

U.S. stocks ended sharply higher on Monday, recovering some losses after last week’s selloff, as silver prices surged. The Dow Jones Industrial Average rose 229.29 points, or 0.76%, to 30,211.91. The S&P 500 advanced 59.62 points, or 1.61%, to 3,773.86. The Nasdaq Composite gained 332.70 points, or 2.55%, to 13,403.39.

Oil futures gain ground Monday, settling up by more than 2%, buoyed in part by surveys indicating that the Organization of the Petroleum Exporting Countries and their allies are sticking closely to their pledge on output curbs. West Texas Intermediate crude for March delivery rose $1.35, or 2.6%, to settle at $53.55 a barrel. April Brent crude added $1.31, or 2.4%, at $56.35 a barrel.

Silver futures for March delivery climbed to as high as $30.35 an ounce on Comex on Monday, the highest intraday level since February 2013. Prices settled at $29.418, up $2.50, or 9.3%.