(CNBC) — U.S. stocks closed higher on Monday after the release of positive homebuilder data as investors digested weak manufacturing data and falling oil prices while eyeing the release of the Federal Reserve’s minutes.
The National Association of Home Builders index rose 1 point to 61, its highest level since November 2005.
“I think the fact that it was positive really turned the market around,” said William Lynch, director of investments at Hinsdale Associates.
