CORRECT: U.S. stocks rally as energy, Apple lift Wall Street mood

U.S. stocks finished sharply higher Monday as gains in tech and a rally in crude futures helped boost investor sentiment. Tech's rally was partially inspired by a 3.7% rise in the shares of Apple Inc. . The Dow Jones Industrial Average finished up 175.39 points, or 1%, to 17,710.71, with Apple serving as the blue-chip gauge's biggest winner. The S&P 500 closed 20.04 points, or 1%, higher at 2,066.53, while the tech-heavy Nasdaq Composite Index climbed 57.78 points, or 1.2%, higher to 4,775.46. Meanwhile, June West Texas Intermediate crude rose $1.51, or 3.3%, to settle at $47.72 a barrel on the New York Mercantile Exchange. Crude's early march higher helped underpin the day's gains after a report from Goldman Sachs indicated that oil inventories were shrinking. Apple received a boost after it was revealed in a regulatory filing on Monday that Warren Buffett's Berkshire Hathaway had purchased a roughly $1 billion stake in the iPhone maker during the first quarter. Investors also appeared to cheer a flurry of mergers and acquisitions news, including Anacor Pharmaceuticals Inc. agreement to be bought by Pfizer Inc. .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.