(CNBC) -- U.S. stocks rose on Monday as Apple led the technology sector to a record high.
The Nasdaq composite rose 0.5 percent and was on track to post a record close. The tech-heavy index also traded less than a percent away from its intraday record as Apple and Amazon hit all-time highs. Microsoft also helped lift the Nasdaq, rising 0.7 percent after announcing it was acquiring GitHub, a software developer platform, for $7.5 billion.
"If you look at the month of May, Apple — all by itself — contributed 23 percent of the S&P 500's gains," said Jeff Kilburg, CEO of KKM Financial on CNBC's "Worldwide Exchange." "When you see Apple at all-time highs, that is the sentiment, that is the true revelation that we are OK in the U.S. economy."
Advertisement - story continues below