Stocks End Higher After Summers Bows Out

Stocks eased off its peak on Monday but still finished higher, boosted by news that former Treasury Secretary Larry Summers had pulled out of the race to be the next head of the Fed, NBC News reported. The Nasdaq finished lower amid sharp losses reported by Apple. The Dow was up by more than 100 points at closing, led by Boeing and General Electric, and on track for its best monthly gain since January. The S&P 500 finished off its best level after crossing above 1,700 earlier in the day. Summers' decision encouraged investors who had expected him to take a more hawkish course regarding stimulus than other candidates if appointed.

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