Reuters Videos40d agobullishVIDEO
Wall Street ends higher as major tech-related shares jump<body><p>STORY: Wall Street's main indexes closed higher on Monday, with the Dow adding about six-tenths of a percent to notch a record closing high, the S&P 500 climbing nearly 1.2% and the Nasdaq gaining 2%.</p><p>Several tech stocks that had fallen recently due to concerns about AI spending rebounded on Monday. </p><p>That and quarter-end "window dressing," where investors buy certain stocks to make their portfolios look better, helped boost the market, says Bob Lang, founder and chief options analyst of Explosive Options.</p><p>“I think what's driving stocks today is here we are at the end of the month, end of the quarter, and there's a lot of, you know, they call it window dressing going on here. There's a lot of funds that are needing to get into some stocks and getting out of others. The last week and a half, we've had a really good broad rally in this market, not just technology stocks, which some of the big names have fallen off the cliff a little bit, the Mag 7 names. But they are pulling back up today on the 29th. And I think that, you know, there's some, there's some good energy here in the markets.”</p><p>Among those Magnificent 7 names that rose on Monday: Google parent Alphabet, which gained about 5% in its first day as a Dow component. </p><p>Shares of SpaceX jumped more than 7% after the Nasdaq said the newly listed company will be added to the Nasdaq 100 index on July 7.</p><p>And shares of Comcast rose about 4.5% after the media and cable provider said it plans to separate into two independent, publicly traded companies through a spinoff of NBCUniversal and Sky.</p><p>Meanwhile, RBC Capital Markets on Monday raised its 12-month target for the S&P 500 to 8,150 from 7,900, citing earnings strength and a supportive macroeconomic backdrop.</p></body>
