Midday Report: Dow Hits Record, Stocks Mixed as Oil Prices Surge

U.S. stocks traded mixed Monday with the Dow Jones Industrial Average and S&P 500 setting new intraday highs amid a surge in oil prices following an agreement from non-OPEC countries to cut crude production.
Eleven non-OPEC countries including Russia and Mexico over the weekend agreed -- for the first time in 15 years -- to reduce oil output by 558,000 barrels a day. The Saudi Oil Minister said his country, the largest crude exporter, would cut production below its two-year level of 10 million barrels a day. Shares of Chipotle (CMG) - Get Report  were up after its founder Steve Ells was named the sole CEO of the fast food chain, the company announced Monday. Ells will remain the chairman of the board, while the company's co-CEO will step down immediately. And Viacom's (VIAB) - Get Report  shares were down nearly 8% as CBS Vice Chair Shari Redstone ended talks to merge with CBS. CBS shares fell 2.9%.