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Stocks Close Higher, But Off Day's Highs


Investors let out a small sigh of relief in hopes that geopolitical tensions are easing. U.S. stocks closed with gains but off their session highs on light volume. And that comes as no surprise to PNC's Chief Investment Strategist, who says we can expect more days like today for the rest of the week. In a note to clients today, Bill Stone wrote, "The markets will likely focus this week on vacations and global geopolitical risks because the biggest reports for the month appear to be behind us." Kinder Morgan (KMI) was one of the big winners in today's session. Investors were excited to hear the oil and gas pipeline operator will consolidate its various companies into a single corporation. Caterpillar (CAT) and Intel (INTC) led the Dow Jones Industrial's gain. MannKind (MNKD) was the most active stock on the Nasdaq after Sanofi agreed to a deal of up to $925 million. Krispy Kreme (KKD) was sharply higher after Wedbush upgraded the stock to 'Outperform'.