The S&P 500 ended Monday trading higher after energy-related stocks surged following OPEC's decision to cut production.
The S&P 500 energy sector index rose 4.9% after Saudi Arabia and other OPEC+ oil producers announced cuts of 1.16 million barrels a day starting in May.
Chevron Corp, Exxon Mobil Corp and Occidental Petroleum Corp were among the big gainers after rising more than 4%.
Even so, the prospect of higher oil costs also fueled other concerns about inflation, potentially driving further tightening by the Federal Reserve (Fed).
At the same time, dismal ISM survey manufacturing PMI data in March raised concerns about weakening US economic activity.
Meanwhile, the Dow Jones Industrial is also positive following the strong performance of energy and healthcare stocks. UnitedHealth Group jumped 4.57%, Walgreens Boots Alliance rose 2.54% and Merck rose 2.33%.
The Nasdaq, on the other hand, fell following a decline in Tesla shares of more than 6% after its electric vehicle delivery report for the first quarter disappointed investors.
Earlier, Tesla implemented aggressive price cuts to support demand, but such measures did not appear to have a major impact on the company's sales.
Overall, the Dow Jones Industrial closed positive by rising 0.98% to 33,601.16, while the S&P 500 rose 0.37% to 4,124.50 and the Nasdaq fell 0.25% to 13,148.35.
The US30 index was higher at 33,598 during the Asian session.
