U.S. stocks rose on Monday as President Donald Trump continued his first trip abroad since taking office.
The Dow Jones industrial average advanced about 90 points, with Boeing and 3M contributing the most gains.
The S&P 500 rose 0.5 percent, with information technology leading advancers. Tech has been the best-performing sector in the S&P this year, rising 18 percent.
The Nasdaq composite outperformed, gaining 0.82 percent.
"President Trump's first trip overseas has put some of his domestic troubles on the back burner which should temporarily eliminate some of the headline risk that has frustrated the bulls," said Jeremy Klein, chief market strategist at FBN Securities, in a note.
Trump arrived in Tel Aviv Monday and described his visits as a "rare opportunity to bring security and stability and peace to this region and to its people."
His two-day visit to Israel will include separate meetings with Israeli Prime Minister Benjamin Netanyahu and Palestinian Authority President Mahmoud Abbas. Trump also plans to visit the Holocaust memorial Yad Vashem and the Western Wall, an important key Jewish holy site.
Trump's visit to Israel comes after Trump visited Saudi Arabia, a trip that ended with a multi-billion-dollar arms deal. Defense-related stocks popped on the back of the deal, with the iShares U.S. Aerospace & Defense ETF (ITA) rising about 0.9 percent.
Private equity firm Blackstone also announced the creation of a $40 billion infrastructure investment fund with Saudi Arabia's Public Investment Fund, the country's main sovereign wealth fund. Blackstone shares spiked more than 6 percent.
Trump's trip came after one of the worst weeks of his presidency as news broke that Trump allegedly tried to influence an FBI investigation. Stocks suffered their worst day of the year Wednesday, as the three major indexes dropped more than 1 percent.
"It's basically a case of no news is good news. There hasn't been anything incremental since then," said Aaron Clark, portfolio manager at GW&K Investment Management.
U.S. stock futures traded higher before the open, with Dow futures rising 47 points, while S&P and Nasdaq futures gained 3.25 points and 11 points, respectively.
"The news of the deal is positive, but there are two factors that are being overlooked," said Peter Cardillo, chief market economist at First Standard Financial, referring to a North Korea missile test and testimony from former FBI Director James Comey. "These clouds of uncertainty are not evaporating," First Standard's Cardillo said.
North Korea said Monday it successfully tested an intermediate-range ballistic missile, further defying calls to curb its nuclear program. Meanwhile, Comey agreed last week to testify in an open Senate session sometime after Memorial Day; his testimony could raise questions about the future of Trump's presidency.
"I think we're at a point where investors don't care about negative catalysts, or these catalysts are not that big of a deal," said Mike Bailey, director of research at FBB Capital Partners.
Ken Moraif, senior advisor at Money Matters, said that as long as the market believes Trump will be able to push tax reform and deregulation through Congress, the market will remain in its current range. "If we get a tax plan that's to the market's liking, we could see another leg higher in the fourth quarter," he said.
In economic news, there were no major data released Monday, but Wall Street looked ahead to the release of the minutes from the Federal Reserve's meeting on May 3. The minutes were slated for release Wednesday.
U.S. Treasurys slipped, with the benchmark 10-year note yield rising to 2.25 percent and the two-year yield climbing to 1.275 percent. The dollar fell slightly against a basket of currencies, with the euro hitting its highest level since Nov. 9.
Major U.S. Indexes
The Dow Jones industrial average rose 89.99 points, or 0.43 percent, to close at 20,894.83, with Boeing outperforming and Pfizer lagging.
The gained 12.29 points, or 0.52 percent, to end at 2,394.02, with information technology leading 10 sectors higher and energy the only decliner.
The Nasdaq advanced 49.91 points, or 0.82 percent to 6,133.62.
About two stocks advanced for every decliner at the New York Stock Exchange, with an exchange volume of 792.1 million and an exchange volume of 3.163 billion at the close.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 10.9.
—CNBC's Justina Crabtree contributed to this report.
On tap this week:
Monday
10:05 a.m. Philadelphia Fed President Patrick Harker
7:00 p.m. Federal Reserve Governor Lael Brainard
9:10 p.m. Chicago Fed President Charles Evans
Tuesday
Earnings: AutoZone, Momo, Intuit, Toll Brothers, Heico
10:00 a.m. New home sales
10:00 a.m. Richmond Fed survey
3:15 p.m. Minneapolis Fed's Neel Kashkari
5:00 p.m. Philadelphia Fed President Patrick Harker
Wednesday
Earnings: HP, Tiffany, Lowe's, Pure Storage, Bank of Montreal, Eaton Vance, JA Solar
9:00 a.m. FHFA home prices
9:45 a.m. Markit mfg. PMI
10:00 a.m. Existing home sales
2:00 p.m. FOMC minutes
6:00 p.m. Dallas Fed President Robert Kaplan
Thursday
OPEC meets in Vienna
Earnings: Medtronic, Abercrombie and Fitch, Ulta Beauty, GameStop, Nutanix, Splunk, Best Buy, Hormel Foods, Toronto-Dominion Bank , Royal Bank of Canada
8:30 a.m. Jobless claims
8:30 a.m. Advance econ indicators
4:00 a.m. New York Fed Executive Vice President Simon Potter
10:00 a.m. Fed Gov. Lael Brainard
10:00 p.m. St. Louis Fed President James Bullard
Friday
8:30 a.m. Durable goods
8:30 a.m. Q1 (second read) Real GDP
9:45 a.m. Markit services PMI
10:00 a.m. Consumer sentiment