Stocks break a 3-week slump and end higher; oil price sinks
NEW YORK (AP) — U.S. stocks are closing higher after three straight weeks of losses.
Health care and utilities stocks had the biggest gains Monday.
The Dow Jones industrial average rose 228 points, or 1.3 percent, to 17,977.
Trader Christopher Fuchs, left, works on the floor of the New York Stock Exchange, Monday, March 16, 2015. U.S. stocks opened higher, led by health care and utilities companies, rebounding after three weeks of losses. (AP Photo/Richard Drew)
The Standard & Poor's 500 index gained 27 points, or 1.4 percent, to 2,081. The Nasdaq composite climbed 57 points, or 1.2 percent, to 4,929.
The market is coming off three weeks of declines. Traders will be watching a Federal Reserve meeting this week for insight into when the central bank might start raising interest rates. Low rates have boosted stocks for six years.
Oil fell to a six-year low on expectations that rising supplies in the U.S. are outpacing demand.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.08 percent.
Trader Gregory Rowe, right, works on the floor of the New York Stock Exchange, Monday, March 16, 2015. U.S. stocks opened higher, led by health care and utilities companies, rebounding after three weeks of losses. (AP Photo/Richard Drew)
Trader James Dresch works on the floor of the New York Stock Exchange, Monday, March 16, 2015. U.S. stocks opened higher, led by health care and utilities companies, rebounding after three weeks of losses. (AP Photo/Richard Drew)
Trader Jonathan Corpina, left, works on the floor of the New York Stock Exchange, Monday, March 16, 2015. U.S. stocks opened higher, led by health care and utilities companies, rebounding after three weeks of losses. (AP Photo/Richard Drew)
