U.S. stocks climbed higher on Monday, rebounding from losses late last week, with gains from Apple and financials. Bobbi Rebell reports.
Stocks bounced back from big losses last week. Energy stocks, like Marathon Oil, led the charge. Oil prices rose after drillers cut oil rigs for the third straight week. HighTower Kelly Wealth Management's Leo Kelly. SOUNDBITE: LEO KELLY, CEO, HIGHTOWER KELLY WEALTH MANAGEMENT (ENGLISH) SAYING: "The market is looking for a reason to go higher one day and a reason to go lower the next day. Today, we don't have any disasters in China over the weekend. Stocks again look reasonable. Oil's up, right. That's the unusual part about this particular market." Biotech was the worst performing sector. Presidential candidate Hillary Clinton said she would unveil a plan to stop "price-gouging" for specialty drugs. GoPro nearing a recent low. Barron's said the video camera maker's shares could fall much further due to strong competition from Apple. Atmel shares shot up one day after the chip maker agreed to be bought by Germany's Dialog Semiconductor. Microsoft shares rose even though its Skype phone service got hit with a glitch that prevented some users from making calls. In economic news, home resales fell more than expected last month. Turning to Europe, tech and healthcare shares led stocks higher, but the FTSE 100 ended flat.