Stocks were on track to close at records again on Monday as a rally in tech drove markets higher.

The S&P 500 was up 0.24%, the Dow Jones Industrial Average gained 0.1%, and the Nasdaq added 0.59%.

The Dow and S&P 500 were on track to secure new all-time closing highs. The Dow reached a record of 18,516.55 on Friday, while the S&P 500 scored its own at 2,163.75 on Thursday. Stocks have enjoyed a stretch of record-breaking days after a better-than-expected U.S. jobs report for June brought relief over the state of the U.S. economy. A dismal May reading had triggered fears over growth.

"The economic data 'post Brexit' has been generally better than expected and given investors a reason to be aggressively buying stocks," KingsviewAsset Management's Paul Nolte wrote in a note. "The belief in a stronger economic backdrop as we enter the last half of the year is also showing up in stocks. Valuations remain stretched and earnings have not yet improved, but investors are betting they will very soon."

ARM Holdings (ARMH)  surged 42% Monday after agreeing to a buyout from SoftBank (SFTBF) . Japan's SoftBank offered a deal worth more than 24.3 billion pounds ($32.1 billion), roughly a 43% premium to ARM's Friday close. The acquisition is the biggest in the U.K. since AB InBev and SABMiller's deal last November.

Other large-cap tech companies were on the upswing including Apple (AAPL) - Get Report , Alphabet (GOOGL) - Get Report , Microsoft (MSFT) - Get Report and Facebook (FB) - Get Report . The Technology Select Sector SPDR ETF (XLK) - Get Report rose 0.7%.

Alphabet, Apple and Facebook are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GOOGL, AAPL or FB? Learn more now.

Investors appeared to shrug off an attempted coup in Turkey over the weekend that resulted in hundreds of deaths. Since then, nearly 8,000 police officers have been suspended on suspicion of having links to the attempt. President Recep Tayyip Erdogan has promised to rid the country of the "virus" that fueled the attempt.

Turkish companies with U.S.-listed shares were plummeting on Monday. Istanbul-based telecom Turkcell Iletisim Hizmetleri (TKC) - Get Report plummeted more than 5%, bank Akbank (AKBTY) slid 3%, and the iShares MSCI Turkey ETF (TUR) - Get Report tumbled nearly 7%.

TST Recommends

Turmoil in Turkey over the weekend dictated oil's recent moves. West Texas Intermediate crude closed 1.6% at $45.24 a barrel on Monday. 

"The coup in Turkey, which began on Friday, helped push prices above $48 barrel for a spell," said Daniel Holder, commodity analyst at Schneider Electric. "However, by the end of Saturday forces loyal to ... Erdogan had regained full control. As Turkey has both seaborne and pipe-borne crude oil flow through its territory, the country's stability is important to maintaining Russian and Middle Eastern crude into the Mediterranean region."

The earnings calendar kicked into high gear on Monday in week two of the season. Bank of America (BAC) - Get Report rose 4% on Monday after exceeding analysts' low-ball estimates in its recent quarter. As expected, a low interest-rate environment continued to eat into profitw. The North Carolina bank earned 36 cents a share over the quarter, less than 45 cents in the year-ago period but above estimates of 33 cents. Trading revenue bounced back, climbing 12% to $3.7 billion.

Hasbro (HAS) - Get Report beat earnings estimates in its recent quarter on strength in demand for its Star Wars and Frozen toys. Its girls toys segment generated a 35% increase in sales, driven by its Disney Princess and Frozen doll lines. Hasbro's Disney license, which it secured in 2014, has proven a boon to its top- and bottom-lines. Overall revenue rose 10%, or 12% excluding currency exchange. The stock fell, however, fell 7%.

Charles Schwab (SCHW) - Get Report fell 0.15% after besting expectations in its second quarter. The financial institution earned 30 cents a share over the quarter, a dime higher than the year-ago period. Revenue rose 17% to $1.83 billion, coming in above forecasts of $1.8 billion.

Netflix (NFLX) - Get Report , EMC (EMC) , Yahoo! (YHOO) , and VMware (VMW) - Get Report will report earnings after the bell Monday in a busy week of the reporting season.

"As earnings season ramps up, strong results may be needed to keep valuations in check or upside momentum could begin to level off," said Randy Frederick, managing director of trading and derivatives at Charles Schwab.

Yahoo! will be closely watched after the bell for an update on its plan to break itself apart for sale. The company has explored strategic alternatives, including the sale of its core Internet business, since the beginning of the year with potential suitors including AT&T and Verizon .

Homebuilder sentiment weakened in July, though only slightly, according to the National Association of Home Builders' index. The measure declined to 59 in July after a stable four months. Economists had expected no change this month. Still, the reading remains above the 50-level indicative of expansion in the sector.

Burlington Stores (BURL) - Get Report increased 8% on Monday after raising its second-quarter guidance. The retailer expects quarterly comparable sales to rise 4.2% to 4.5%, up from a previous range no higher than 3.5%. Adjusted net income is expected to come in between 28 cents and 30 cents a share, higher than its previous forecast of 20 cents to 23 cents a share.