U.S. stocks close higher on hopes of U.S.-Iran peace deal

U.S. stocks ended higher on Monday.

The Dow Jones Industrial Average rose 301.68 points, or 0.63 percent, to 48,218.25. The S and P 500 added 69.35 points, or 1.02 percent, to 6,886.24. The Nasdaq Composite Index increased by 280.842 points, or 1.23 percent, to 23,183.736.

Nine of the 11 primary S and P 500 sectors ended in green, with financials and technology leading the gainers by going up 1.73 percent and 1.72 percent, respectively. Meanwhile, utilities and consumer staples led the laggards by dropping 1.19 percent and 1.04 percent, respectively.

U.S. stocks close higher on hopes of U.S.-Iran peace deal

Oil prices advanced on Monday.

The West Texas Intermediate for May delivery added 2.51 dollars, or 2.6 percent, to settle at 99.08 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery increased by 4.16 dollars, or 4.37 percent, to settle at 99.36 dollars a barrel on the London ICE Futures Exchange.

Crude futures settle higher