Stocks settled modestly higher on Monday, with the Dow snapping a five-day losing streak, as investors monitored U.S. debt ceiling talks. Treasury Secretary Janet Yellen stated she was told regulators had "found some areas of agreement"  in their negotiations. The Empire State Manufacturing survey kept optimism in check, though, after showing a bigger-than-expected drop in New York manufacturing activity for May.

GOLD, OIL GAIN AMID DEBT CEILING SPECULATION 

Oil prices snapped a three-day losing streak on Monday, as investors demonstrated optimism over a U.S. debt ceiling deal. A potential crude buyback for the U.S. Strategic Petroleum Reserve also provided tailwinds. June-dated crude added $1.07, or 1.5%, to close at $70.04 per barrel.

Gold prices settled higher as well, with many traders also expecting the U.S. debt ceiling talks to face challenges. June-dated gold rose $2.90, or 0.1%, to close at $2,022.70 an ounce.

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