The Dow Jones industrial average (INDU) added 38 points, or 0.3%.
The S&P 500 (SPX) added 4 points, or 0.3%, while tech-heavy Nasdaq (COMP) rose 15 points, or 0.6%, with Netflix (NFLX) leading the advance.
The push higher came as gains in commodities "helped the market overcome negative economic news," said Scott Marcouiller, chief technical market strategist at Wells Fargo Advisors.
Oil prices surged 1.7% to top $101 per barrel, while silver prices jumped more than 4% to near $38 per ounce. Gold prices edged up 0.2% to $1,526.70 per ounce.
Marcouiller said concerns about the European debt crisis also eased some after Fitch Ratings said that German banks' risk from Greek debt is manageable.
Despite the day's modest advance in stock prices, stocks remain lower for the month, and headwinds remain.
"The market is in a bit of a tug-of-war," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.
On one hand, investors are on edge as they face a series of issues that refuse to go away: a slowing U.S. recovery, European debt problems, and the end of the Federal Reserve's bond-buying program.
"The weak economic data is accumulating, and investors are spooked that the economy may be losing momentum, which could crimp future corporate profits," Luschini said. "And nobody knows what the loss of the Fed's stimulus in June will mean."
On the other hand, corporate earnings have been coming in above expectations for the most part. And in a low-interest rate environment, equities remain the most attractive asset class, Luschini said.
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