The Dow Jones Industrial Average closed above 52,000 for the first time on Monday, the same day Alphabet joined the 30-stock index.
The Google parent’s stock gained more than 4% on its first day as a Dow component, according to CNBC
The Dow ended the session up about 244 points, or 0.47%, at 52,120. The S&P 500 rose 0.86% and the Nasdaq advanced 1.49%, with both indexes breaking five-session losing streaks. Shares of Comcast surged roughly 7% after the cable and entertainment giant announced plans to split into two separately listed public companies, dividing its media and technology operations.
The breakup is slated to take approximately one year to complete. Markets also reacted to a pause in hostilities between the U.S. and Iran. After a weekend of military strikes between the two nations raised fears of broader conflict, Washington and Tehran reached an agreement to halt fighting and reopen the Strait of Hormuz to commercial shipping. “Both sides will stand down for now and vessels can move freely,” a U.S. official told CNBC.