U.S. stocks jumped on Monday, with the Nasdaq Composite rising to its highest level since March 2000 and the price of oil falling to its lowest in more than a year, as geopolitical tensions eased.
Dollar General jumped after the discount retailer offered $8.95 billion for Family Dollar Stores, challenging a bid from Dollar Tree.Monster Beverage fell after Jefferies Group downgraded the stock to hold from buy. Shares of Urban Outfitters advanced ahead of the retailer’s earnings release after Monday’s close.
The CBOE Volatility Index, a measure of investor uncertainty, fell 6.3 percent to 12.32. Russia said a dispute over its convoy of humanitarian aid to Ukraine had been settled, and a Ukrainian official said more than five hours of discussions in Berlin had brought about “moderate progress,” according to media reports.
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