Stocks Rallied as North Korea Tensions Eased

U.S. stockss rallied Monday, as the verbal standoff between the U.S. and North Korea cooled for now. At close, the Dow Jones Industrial Average rose 135.39 points, or 0.62%, to 21,993.71. The S&P 500 advanced 24.52 points, or 1.00%, to 2,465.84. The Nasdaq Composite rose 83.68 points, or 1.34%, to 6,340.23.

Oil fell sharply Monday, with concerns over rising crude output from OPEC members and U.S. shale-oil producers pushing prices to their lowest finish in three weeks. WTI crude oil for September delivery dropped $1.23, or 2.5%, to settle at $47.59 a barrel. Brent oil for October fell $1.37, or 2.6%, to $50.73 a barrel.

Target (TGT) said on Monday it is buying Grand Junction, a San Francisco-based startup that connects retailers and other distributors to a network of more than 700 carriers across North America, a move to better go toe-to-toe with rivals Amazon.com (AMZN) and Walmart (WMT) among others that have vastly increased their fast delivery capabilities.