2017.08.1421:27:00UTC+00Wall Street Higher as North Korea Tensions Dwindle Down

U.S. stocks closed higher on Monday from the previous week's selloff, as traders saw geopolitical tensions subsiding.

The Dow Jones industrial average climbed 0.62 percent to 21,993.71, as Goldman Sachs, Apple and Boeing contributed the most advances.

The S&P 500 advanced one percent to 2,465.84, as the information technology ended at a record peak. The S&P also recorded its best day since April 24, when it climbed 1.08 percent. The Nasdaq composite gained 1.34 percent to 6,340.23, with shares of Amazon, Facebook and Tesla all increasing.

The CBOE Volatility index, Wall Street's fear gauge, dropped over three points after it jumped to a nine-month peak last week.

Technology shares were among stocks that gave the index its largest boost. Apple rose 1.5 percent and the S&P 500 technology index climbed 1.6 percent.

Tesla advanced 1.7 percent after two brokerages increased their price targets on the stock, citing possible success of the firm's Model 3 sedan.

Snap Inc rose 6.5 percent after notching a record low early in the session, as investors posted their stakes in the social media firm while a wave of employees became eligible to sell their shares.