(CNBC) — U.S. stocks closed higher Monday, with energy leading as oil rose, after comments from Fed Chair Janet Yellen remained positive on the economy while omitting a specific reference to the timing of a rate hike.
The Dow Jones industrial average extended gains after the conclusion of Yellen's midday remarks to briefly trade more than 140 points higher, with Boeing contributing the most to gains as most constituents advanced.
The S&P 500 held above the psychologically key 2,100 level to trade around its highest of the year so far. Energy rose more than 1.5 percent to lead advancers while utilities and telecommunications were the only decliners.
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