(CNBC) — U.S. stocks closed higher on Monday, following a global rally in equities, as investors cheered signs of progress in the Greece debt negotiations.
The Nasdaq Composite hit a new intraday record, topping the 5,143.32 high set on Thursday. Apple gained nearly 1 percent, while the iShares Nasdaq Biotechnology ETF (IBB) gained nearly 1.5 percent.
The Russell 2000 also touched a new intraday high.
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"The two binary issues out there was the Fed and Greece, and both of those (appear) resolved for the next 12 to 18 months," said Jack Ablin, chief investment officer at BMO Private Bank.