NEW YORK (AA) – Wall Street closed higher Monday with stock gains at tech giants, and crude oil prices reaching their highest level since November.
The Dow Jones ended the day 175 points higher at 17,710. The S&P 500 increased 20 points to close at 2,066, while the Nasdaq was up 57 points to end at 4,775.
Due to supply disruptions in Canada, Venezuela, Nigeria and the U.S., oil prices have been on rise in recent months.
Prices climbed after global investment banking firm Goldman Sachs revised up its crude price projections for 2016, rising the bullish sentiment in the oil market.
American benchmark West Texas Intermediate was up 3.7 percent to as high as $47.98 per barrel, and International benchmark Brent crude soared to $49.47 -- a 3.3 percent increase.
Meanwhile, Apple's stock rose 3.7 percent, and shares of Yahoo increased 2.7 percent.
The stock market will focus Tuesday on a number of economic indicators for April, including consumer price index, housing starts and building permits.