U.S. Stocks Close Sharply Higher

U.S. stocks closed sharply higher Monday as investors were relieved that Greece and its creditors had reached an agreement for a third bailout program. All the major indices closed the day in the green, with the Dow closing higher by 217.27 points, pushing the index back into positive territory for the year. The S&P 500 closed higher by nearly 1.1% with the Nasdaq rising by 1.48% Monday.

As the markets climbed, several consumer stocks hit all-time highs Monday, including Fitbit, which received three bullish ratings and six neutral ratings on what is called Underwriter Coverage Day. Netflix, which crossed above $715 per share for the first time, Starbucks, Under Armour and Comcast, which announced a new streaming service and following Comcast-owned Universal's big "Minions" win at the box office this weekend, hit all-time highs as well.

And oil is feeling the pressure from an imminent Iran deal and rising production from OPEC. Oil fell Monday by 1%, settling at $52.20 per barrel.