Closing Bell: Apple Could Top $1 Trillion Market Cap; S&P 500 Back in Range of Records

It was a solid start to the week with gains putting the S&P 500 within 10 points of its all-time closing high.
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It was a solid start to the week with gains putting the S&P 500 within 10 points of its all-time closing high. A rally in crude oil pushed West Texas Intermediate to a one-month high. Defense stocks gave Wall Street some of the largest gains after President Trump inked a number of deals with Saudi Arabia. General Dynamics (GD) - Get Report , Lockheed Martin (LMT) - Get Report , Boeing (BA) - Get Report , and Raytheon (RTN) - Get Report each enjoyed solid gains. Apple (AAPL) - Get Report moved slightly higher after RBC Capital forecast that its market capitalization will eclipse the $1 trillion mark in the next 12 to 18 months. Catalysts include a "premium-priced" iPhone 8 and extended share buybacks. Citigroup (C) - Get Report has agreed to a roughly $97 million settlement to close out a DoJ criminal investigation. The bank allegedly violated anti-money laundering regulations at its Banamex USA business.