Dow Hits Record Above 52,000 as Tech Stocks Lead Broad Rally on Iran Truce

U.S. stocks surged on Monday, with the Dow Jones Industrial Average closing at a record above 52,000 and the Nasdaq jumping over 2% as tech stocks rebounded sharply. The rally was fueled by a fragile U.S.-Iran truce and resumption of negotiations, Alphabet's debut in the Dow, and strong gains in Tesla, Amazon, and other mega-caps. In other news, SpaceX was announced as a new component of the Nasdaq-100 Index effective July 7, and the Supreme Court upheld Federal Reserve independence in a ruling limiting presidential firing power.

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Dow closes at record above 52,000 as Nasdaq surges 2% on tech rally and Iran truce The S&P 500 rose 1.2% and the Nasdaq 100 soared 2.3% as investors reassessed the AI trade after a recent selloff. Alphabet jumped 5% on its first day as a Dow component, Tesla surged 8.5%, and Comcast rallied 4.5% on spinoff plans. Easing U.S.-Iran tensions supported sentiment. 1 2 3 4 5 6 7

SpaceX to join Nasdaq-100 Index on July 7, triggering $4.3 billion in passive inflows Nasdaq announced that SpaceX (SPCX) will become a component of the Nasdaq-100 before market open on July 7. J.P. Morgan estimates $4.3 billion in passive buying, though SpaceX's weight will be modest at about 0.5% due to low free float. 6 8

Supreme Court rules president cannot fire Fed board members without cause In a 5-4 decision, the Supreme Court upheld the Federal Reserve's independence, blocking Trump's attempt to fire Governor Lisa Cook. The ruling limits presidential removal power for Fed governors, reinforcing the central bank's political insulation. 7 9

Palantir partners with NVIDIA to bring secure AI to U.S. government agencies Palantir's new intelligent engine uses NVIDIA Nemotron open models to build custom AI for air-gapped government environments. The partnership aims to advance sovereign AI for national security and critical infrastructure. 10

Nike set to report Q4 earnings after close Tuesday amid 35% stock decline Wall Street expects Nike to post EPS of $0.13 as the sportswear giant faces slipping market share and China headwinds. The stock has fallen nearly 35% year-to-date. 11