Comcast CorpComcast announced plans to split into two separately listed public companies, driving shares up 7%.
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. The Dow ended the session up about 244 points, or 0.47%, at 52,120, while the S&P 500 rose 0.86% and the Nasdaq advanced 1.49%, breaking five-session losing streaks. Shares of Comcast surged roughly 7% after the company announced plans to split into two separately listed public companies, dividing its media and technology operations. Markets also reacted to a pause in hostilities between the U.S. and Iran, with Washington and Tehran agreeing to halt fighting and reopen the Strait of Hormuz to commercial shipping. Oil prices moved higher, with Brent crude rising above $74 a barrel and West Texas Intermediate futures advancing to $71. A Supreme Court ruling shot down President Donald Trump's effort to oust Federal Reserve governor Lisa Cook through an expedited legal process, while Treasury yields held steady.
Comcast CorpComcast announced plans to split into two separately listed public companies, driving shares up 7%.
Alphabet Inc Class CAlphabet joined the Dow Jones Industrial Average, a positive index inclusion event, and its stock gained 4% on the first day.