US stocks end higher after Yellen speech

US stocks closed higher Monday following a speech from Fed Chair and supported by rising oil prices.

The Dow Jones industrial Average gained 113.27 points, or 0.64%, to 17,920. The S&P 500 climbed 10.28, or 0.49%, to finish at 2,109, its highest close this year. The Nasdaq Composite rose 26.20 points, or 0.53%, to 4,968.

Fed Chair Yellen speech on Monday fueled the rally as she said further gradual increases in the federal funds rate will probably be appropriate but refrained from offering an indisputable sign of a June or July move.