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Market Snapshot: Stocks close higher on oil, energy-sector gains

U.S. stocks closed higher Monday as rising optimism that OPEC would reach a deal to cut production—a move seen as necessary for addressing oversupply—delivered a jolt to energy shares.

The day’s gains were broad with all of the S&P 500’s sectors trading in positive territory.

The Dow Jones Industrial Average DJIA, +0.49% rose 88.55 points, or 0.5% to close at 18,329.04. A 2% surge in shares of Exxon Mobil Corp.XOM, +1.96% and 1.8% gain in Apple Inc. AAPL, +1.74% and Merck & Co.MRK, +1.80% led blue-chip advancers. Wal-Mart Stores Inc., declined 1.1% to weigh on the Dow.

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