Closing Bell: United Technologies Spikes on Reports; Stocks Rally

The good vibes that pushed Wall Street higher last week returned to trigger another rally in equities on Monday. Markets held at highs for the entire session, while crude oil closed out with gains of more than 6%. United Technologies (UTX) spiked on reports it had held negotiations with Honeywell (HON) regarding a potential deal. The two talked about a deal in which Honeywell would offer largely stock and some cash for its smaller rival, potentially creating a company with roughly $94 billion in sales. Sysco (SYY) fell after agreeing to buy U.K. food services distributor Brakes Group for the equivalent of just over $3 billion. The acquisition includes around $2.3 billion in Brakes' debt and is expected to close before the middle of the year. HSBC (HSBC) ended the day lower after warning of a bumpier outlook due to China's slowing economy. TheStreet's Keris Lahiff reports from Wall Street.