U.S. stocks closed higher on Monday, as oil prices retreated after the Israel-Iran attacks left crude production and exports unaffected, easing investor concerns about the potential for higher energy prices to stoke inflation.

Jabil stock surged to a record high and led S&P 500 gainers after the circuit board maker's results topped estimates and it lifted its outlook. U.S. equities declined at midday as investors continued to digest the fighting in the Middle East.