Closing Bell: Celgene Jumps on Patent Settlement; Stocks Rally

It was another positive day for crude oil, which inspired a rally in energy that spilled over onto broader markets. The S&P 500 ended the day more than 1 percent higher and regained slight gains for the year. Celgene (CELG) jumped after settling patent litigation for one of its best-selling drugs. The drugmaker will allow a select few to sell limited quantities of a generic version in the U.S. beginning 2022. Amazon (AMZN) is reportedly looking to limit ties with UPS as it faces higher costs and increased volume. Previous reports suggested Amazon was toying with the idea to lease 20 Boeing jets to satisfy delivery demand. Wal-Mart (WMT) is considering closing 5 percent of its stores in Brazil, roughly 30 locations. TheStreet's Keris Lahiff reports from New York.