U.S. stocks ended higher on Monday

U.S. stocks ended higher on Monday. Commodity futures prices fell sharply last week, rebounded on Monday after the energy and natural resources sector leading the broader market gains.


EST at 16:00 on May 9, the Dow Jones industrial average rose 45.94 points to 12,684.68 points, or 0.36%; the Nasdaq composite index rose 15.69 points to 2,843.25 points, or 0.55%; Standard & Poor's 500 index rose 6.09 points to 1,346.29 points, or 0.45%.


Energy and resources sector led the gains, the financial sector lagged. With oil prices closing above $ 102 a barrel, many oil companies stock prices soared. M & A news, drug maker Alkermes (NASDAQ: ALKS) announced to purchase one of the Irish drugmaker Elan Corp (NYSE: ELN)'s subsidiary with $960,000,000.


No major economic data released on Monday. Important data this week including the U.S. April retail sales data, the United States in April producer price index (PPI) and the April consumer price index (CPI) and so on.


European sovereign debt crisis make the market concerns once again. Monday, Standard & Poor's Ratings Services to Greece from the BB-long-term credit rating lowered to B, short-term credit rating lowered from B to C, and both maintain a negative outlook. The New York Mercantile Exchange, June crude oil contract rose 5.5%, to close at $ 102.55 a barrel last week, oil prices fell 15%. June gold contract rose 0.8% to close at $ 1,503.20 an ounce. July silver futures rose 5.2% to close at $ 37.12 an ounce. By the Greek sovereign debt downgrade impact of European stock markets ended lower on Monday.