Closing Bell: Stocks Lifted by Oil Prices; Facebook Launches Work-Friendly Social Network

U.S. stocks closed higher Monday as oil prices gained steam and Wall Street looked ahead to the start of earnings season. Oil prices in the U.S. settled higher by 3.1% to $51.35 a barrel - its highest closing price in roughly 15 months. The rally was fueled by remarks from Russian President Vladimir Putin saying his nation, which is not an OPEC member, would participate in the cartel's plan to cut production. Shares of drugmaker Tesaro (TSRO) - Get Report spiked 20% after its ovarian cancer drug, niraparib, yielded positive results in a trial, reported TheStreet's Adam Feuerstein. Facebook (FB) - Get Report stock rose more than 1% after reports surfaced that its Workplace site is live. The platform aims to allow employees to communicate with each other and aims to compete with Slack.