Closing Bell: Crude Ends at Two-Week High; Nasdaq, S&P 500 at Fresh Records

The S&P 500 and Nasdaq booked fresh record closes to begin the week as a crude rally put oil at its highest level in two weeks. Oil surged on hopes for an extension to OPEC's production cut deal. Sears (SHLD) slumped after CEO Eddie Lambert warned that one of the retailer's suppliers would soon file a lawsuit to dissolve a supply agreement. Sears and supplier One World have done business together for nearly a decade. Coach (COH) climbed after Deutsche Bank upgraded its rating to buy from hold. Analysts remain optimistic Coach can effectively boost profit with its acquisition of Kate Spade. Snap (SNAP) - Get Report surged in one of its best performances since going public in March after filings showed investment firms Fidelity and BlackRock had stakes in the company. Daniel Loeb's Third Point also disclosed a position in Snap as of the end of March.