U.S. stocks climbed more than one percent on Monday, helped by a gain in energy shares. Leah Duncan reports.
U.S. stocks rallied Monday despite the deadly attacks in Paris on Friday. Oil stocks like Chevron and Exxon led the way higher. Crude prices rose after France launched air strikes in Syria. Wells Fargo Funds' John Manley thinks the attacks won't impact the U.S. economy. SOUNDBITE: JOHN MANLEY, CHIEF EQUITY STRATEGIST, WELLS FARGO FUNDS MANAGEMENT (ENGLISH) SAYING: "Ultimately does it affect the economy or doesn't affect the economy is what matters to the market, and I don't think it will." Northrop Grumman, Rockwell Collins, Boeing and other aerospace and defense stocks shot higher on news of the attacks. But, investors concerned about the outlook for global travel sold off related names. Priceline, Carnival, Royal Caribbean, and American Airlines lost ground. And so too did Starwood. Marriott said it would buy the owner of the Sheraton and Westin brands to create the world's largest hotel chain. As in the U.S., energy stocks helped push European shares mostly higher.