(CNBC) -- Stocks rose on Monday, the first trading day of August, as Wall Street tried to build on its four-month winning streak.
The Dow Jones Industrial Average closed 236 points higher, or 0.9%. The Nasdaq Composite jumped 1.5% to an all-time high. The S&P 500 gained 0.7%.
Shares of major tech companies led the way higher for the broader market. Microsoft gained more than 5% after confirming reports about being in talks to buy social video app TikTok in the U.S. The talks come even as President Donald Trump threatens to ban TikTok because of security concerns over its parent company’s ties to China. Apple and Netflix rose 2.5% and 2%, respectively.
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