Dow retakes 18,000 for first time since July
U.S. stocks climbed Monday, lifting the Dow above 18,000 for the first time in nine months, as Walt Disney (DIS) and Hasbro (HAS) boasted consumer discretionary shares and after oil prices trimmed steep losses.
After a triple-digit advance, the Dow Jones industrial average (I:DJI) was up 95 points, or 0.5 percent, to 17,986 as of 3:29 p.m. Eastern time. The Standard & Poor's 500 index (SPX) added almost 12 points, or 0.6 percent, to 2,093. The Nasdaq composite index (I:COMP) gained 16 points, or 0.3 percent, to 4,954.
Talks in Doha, Qatar, failed to reach a consensus on freezing production to support oil prices. Still while the inability to reach agreement initially knocked prices, losses were curbed amid a strike that cut production in Kuwait.
U.S. crude finished down 59 cents, or 1.4 percent, at $39.77 a barrel in New York. Brent crude, the international benchmark, was down 21 cents, or 0.5 percent, at $42.89 a barrel in London. Earlier, both prices had been far lower, with New York crude down 7 percent.
Hasbro jumped after reporting better results than analysts were expecting. The toy company benefited from strong sales of "Star Wars," ''Frozen" and Disney princess products. Walt Disney shares joined Hasbro in rallying after "Jungle Book" commanded the weekend box office, racking in more than $100 million.
Morgan Stanley also tallied better-than-forecast results.
IBM and Netflix report quarterly results after the close.