Corporate deal activity, gains in Alphabet and a pause in U.S.-Iran hostilities helped lift major U.S. indexes Monday, ending five-session losing streaks for the S&P 500 and Nasdaq.
Wall Street rallied Monday as investors stepped back from last week’s technology selloff, with corporate deal activity, gains in Alphabet and easing geopolitical tension after a pause in U.S.-Iran hostilities supporting risk appetite. The Dow Jones Industrial Average rose 306.63 points, or 0.59%, to 52,182.74, setting a record high and closing above 52,000 for the first time. The S&P 500 gained 86.41 points, or 1.18%, to 7,440.43, while the Nasdaq Composite climbed 522.53 points, or 2.07%, to 25,820.14. Both the S&P 500 and Nasdaq snapped five-session losing streaks.