S&P 500, Nasdaq surge to new records as oil shares gain

Both the S&P 500 and Nasdaq jumped 0.5% to fresh all-time highs, with the S&P 500 ending at 2 402.32 points, and the Nasdaq 6 149.67.

The Dow Jones Industrial Average rose 0.4% to 20 981.94.

Oil prices rallied after Russia's energy ministry released a joint statement with Saudi Arabia calling for a continuation of a deal to restrain production ahead of an OPEC meeting on May 25.

READ: Oil jumps as Saudis, Russia favour extending output deal

That gave a boost to energy shares, including oil giant Chevron, up 0.8%, the midsized producer Marathon Oil, up 1.8%, and oil-services giant Halliburton, up 3.0%.

"We are seeing finally some rebound in the oil prices and that is definitely helping the energy sector," said Nicholas Colas, chief market strategist at Convergex, a brokerage firm.

"There has been a lot of worry about energy and how oil prices do not seem to have found a bottom, but this news from Saudi Arabia and Russia that seems to be helping."

Cybersecurity companies advanced after a cyberattack that started last week hit hundreds of thousands of computers worldwide. FireEye surged 7.5 %, Palo Alto Networks 2.7% and Symantec 3.2%.

Dow member Johnson & Johnson won 2.7% following an upgrade from JP Morgan, which projected stronger growth in J&J's pharma business due to expected new product approvals.

Patheon, which provides outsourcing services to pharmaceutical companies developing new drugs, shot up 33.1% after agreeing to be acquired by Thermo Fischer Scientific for $7.2bn. Thermo Fisher rose 0.4%.