Dow Closes at 18,000 for the First Time Since July
The Dow is up more than 3 percent year-to-date.
— -- U.S. stocks finished today's session at their highest level since July, with the Dow Jones Industrial Average reaching 18,000 for the first time since July.
Stocks have rebounded in recent weeks as worries about a weakening U.S. economy earlier this year have dissipated. Investors have also reacted positively to reports that the Fed will likely raise interest rates more slowly this year.
The Dow closed at 18,004 and is up more than 3 percent for the year after plummeting to new lows in early January.
The S&P 500 Index gained 0.7 percent to close at 2,094, while the Nasdaq rose 0.4 percent to 4,960.
The price of U.S. crude oil fell 1.4 percent to $39.78 a barrel after major oil producing nations could not reach an agreement to reduce output this past weekend in Doha, Qatar.
News of a strike by Kuwaiti oil workers reversed most of the early damage in oil and the broader markets, said Morningstar's Robert Johnson.
"World production seems to be coming down with or without the agreement," he said.
Corporate earnings will likely drive this week’s market activity, Johnson said.
"Recent corporate news has been poor, but better than expectations," he noted.