After an indecisive day, stocks turned around in the last minutes of trading Monday and managed to end with modest gains.
Last week the market had its worst drop since mid-August, and for much of the day it looked like the losses would continue. Near midday the Standard & Poor’s 500 index hit a two-month low. But the broader market rose over the last hour of trading, finishing at its highest levels of the day.
The Dow Jones industrial average picked up 103.29 points to 17,368.50. The S&P 500 index rose 0.48 percent to 2,021.94. The Nasdaq composite index added 0.38 percent to finish at 4,952.23.
Early in the day the price of oil fell below $35 a barrel for the first time since early 2009, but oil recovered and rose about 2 percent, breaking a streak of six straight losses.
Exxon Mobil rose $1.69, or 2.3 percent, to $76.03, and Chevron added $2.89, or 3.3 percent, to close at $89.33.
Consumer products maker Jarden Brands agreed to be acquired by competitor Newell Rubbermaid. The cash and stock deal would create a conglomerate that owns brands like Paper Mate, Sharpie, Elmer’s, Rubbermaid and Calphalon.
Jarden stock added $1.41, or 2.7 percent, to close at $54.09. Newell Rubbermaid shares fell $3.13, or 6.9 percent, to $42.15. — AP