Closing Bell: Dow Marches to Another Record Close as S&P 500, Nasdaq Also Rise

Stocks close with gains with the Dow Jones Industrial Average closing at a record high on Monday as the financial and energy sectors lead.

Author:: Valerie Young
Publish date:: Dec 5, 2016 4:20 PM EST

The Dow Jones Industrial Average closed at another record high on Monday but below a new intraday high earlier in the session. Financial and energy sectors led the average higher. The S&P 500 and Nasdaq ended with gains. Banks reversed course after seeing losses last week. Dow component Goldman Sachs (GS) - Get Report traded at a record earlier. JPMorgan Chase (JPM) - Get Report ended the day higher alongside fellow banks Citigroup (C) - Get Report and Bank of America (BAC) - Get Report. Crude oil closed up 0.2% at $51.79 a barrel, following last week's decision by OPEC to cut production output by 1.2 million barrels a day, the cartel's first cut in production in eight years. Brent crude, the global benchmark, traded at nearly 1% higher at $55 a barrel, but closed lower. And finally, oil and natural gas company Chesapeake Energy (CHK) - Get Report jumped after it announced a $450 million sale of its assets and land. TheStreet's Valerie Young reports from New York.