Wall Street posts another record closing led by energy and tech

• Crude oil's strong rally lifts energy shares higher.
• Apple's gains boost the information technology sector.
• Broadcom's massive bid for Qualcomm improves the market sentiment.

After starting the day in a calm manner, major equity indexes in the U.S. were able to record gains to close at new all-time highs on Monday.

On heightened expectations of an extension until the end of 2018 to the OPEC/non-OPEC output cut d eal, crude oil prices rose sharply on Monday with the barrel of West Texas Intermediate settling at $57.35, the highest daily closing level in nearly two years. The S&P 500 Energy Sector (SPNY) ended the day 2.2% higher. On the other hand, led by a 1.2% gain in tech-giant Apple's shares, the S&P 500 Information Technology Sector (SPLRCT) added 0.35% on the day.

Meanwhile, following last week's market chatter, Broadcom made an official offer of $103 billion, the biggest ever bid in the tech sector, to buy the San Diego-based smartphone chip manufacturer Qualcomm. “The fact that the deal is on the table is huge. We have not seen much in the way of deal-making this year. So this might jumpstart some of the dealmaking ahead of the tax policy changes,” Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago, told Reuters.

The Dow Jones Industrial Average added 9.23 points, or 0.04%, to 23,548.42, the S&P 500 rose 3.29 points, or 0.13%, to 2,591.13 and the Nasdaq Composite gained 22.00 points, or 0.33%, to 6,786.44.

Headlines from the NA session

• Fitch: Tax proposal may add fiscal strain to US public finance
• Nigeria supports an extension of a deal between OPEC, Russia and other non-members
• Fed's Williams: Optimal to have decision on best rate-setting framework before next recession
• Fed's Dudley: Could need to go slightly above 2% to keep inflation anchored
• US Commerce Sec. Ross: US wants to be UK’s ‘number one trading partner worldwide’