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Dow Close Higher as Worries About Ukraine Recede

U.S. stocks jumped on Monday, with the Nasdaq Composite rising to its highest level since March 2000 and the price of oil falling to its lowest in more than a year, as geopolitical tensions eased. Dollar General jumped after the discount retailer offered $8.95 billion for Family Dollar Stores, challenging a bid from Dollar Tree. Monster Beverage fell after Jefferies Group downgraded the stock to hold from buy. Shares of Urban Outfitters advanced ahead of the retailer's earnings release after Monday's close. Russia said a dispute over its convoy of humanitarian aid to Ukraine had been settled, and a Ukrainian official said more than five hours of discussions in Berlin had brought about "moderate progress," according to media reports.

After a 177-point rise, the Dow Jones Industrial Average gained 175.83 points, or 1.1 percent, to 16,838.74, with United Technologies leading blue-chip gains that included 26 of 30 components. The S&P 500 advanced 16.68 points, or 0.9 percent, to 1,971.74, with industrials leading sector gains and utilities the poorest performing of its 10 major industry groups rising. Climbing to its highest level in more than 14 years, the Nasdaq gained 43.39 points, or 1 percent, to 4,508.31.

Russian aid convoy heading to Ukraine 0:24

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— CNBC.com's Kate Gibson