Midday Report: Stocks Fueled by Oil Gains; Mylan Settles With U.S. Government

U.S. stocks rose Monday as Wall Street looked past Sunday night's bitter presidential debate between Hillary Clinton and Donald Trump, focusing instead on oil's 3% rally and the looming start of earnings season. Oil prices in the U.S. rose on hopes OPEC will agree to a production cut at its meeting in November. The cartel's goal is to reduce output to a range between 32.50 million barrels per day to 33 million bpd. Merck (MRK) - Get Reportshares rose 1.8% following successful outcomes in Phase II/III trials of its lung cancer drug Keytruda. Bristol-Myers (BMY) - Get Report, which saw its shares fall almost 9%, is developing a similar drug called Opdivo.  In August, the company reported negative late-stage trial results for Opdivo when compared with chemotherapy. Mylan (MYL) - Get Reportshares rose 9% after reaching a $465 million settlement with the U.S. government amid claims the drugmaker overcharged Medicaid for its EpiPen product.