US Stocks Climb as Oil Prices Jump Nearly 4%

iStock/Thinkstock(NEW YORK) — Major gains in oil prices and a boost from Apple in the tech-sector helped push the three major indexes in the green.

The Dow gained 175.39 (+1.00 percent) to close at 17,710.71.

The Nasdaq jumped 57.78 (+1.22 percent) to finish at 4,775.46, while the S&P climbed 20.05 (+0.98 percent) to close at 2,066.66.

Crude oil soared nearly 4 percent with prices hovering around $47 a barrel.

Tribune Publishing: Major newspaper publisher Gannett Co. has bumped its offer to acquire Tribune Publishing Company, prompting Tribune’s stock to soar over 22 percent Monday. According to a statement, Gannett upped its cash offer from $12.25 per share to $15 per share, making the deal now worth about $864 million compared to the previous deal valued at approximately $815 million. Tribune, the owner of The Chicago Tribune and The Los Angeles Times, had rejected Gannett’s first offer earlier this month.

Apple: Apple had its best day in weeks with shares jumping over 3 percent. A regulatory filing revealed that billionaire Warren Buffett’s Berkshire Hathaway Inc. had bought a nearly $1 billion share stake in the first quarter. Apple has been struggling recently after its first reported drop in iPhone sales on its latest models, particularly in China.

Yahoo: Buffett is also in the news for partnering with billionaire investor Dan Gilbert in a bid to acquire Yahoo Inc. According to CNBC, Gilbert is leading the bid, but Buffett said he would providing financial backing if needed. News of the consortium with Gilbert, who is the founder of Quicken Loans and the Cleveland Cavaliers owner, helped Yahoo’s shares rise nearly 3 percent.