Stocks Ended Higher, S&P 500 Hit a Record High

U.S. stocks ended solidly higher on Monday, with the S&P 500 closing at a record high, after the U.S. and China agreed to a trade truce during the G20 summit over the weekend. The Dow Jones Industrial Average rose 117.47 points, or 0.44%, to 26,717.43. The S&P 500 advanced 22.57 points, or 0.77%, to 2,964.33. The Nasdaq Composite gained 84.92 points, or 1.06%, to 8,091.16.

Oil futures climbed Monday, as major producers looked set to extend their output curbs for another six to nine months.August West Texas Intermediate crude added 62 cents, or 1.1%, to settle at $59.09 a barrel. September Brent added 32 cents, or 0.5%, at $65.06 a barrel.

President Donald Trump said he would refrain from imposing additional tariffs on $300 billion worth of Chinese goods. The move helped alleviate the threat of additional duties after hundreds of companies over the past several months came out against Trump’s preferred negotiation tool.