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Dow Hits Record as Tech Starts Week Strong
The Wall Street Journal88d agoneutral
Dow Hits Record as Tech Starts Week Strong

The Dow Jones Industrial Average topped 52000 for the first time on Monday, highlighting investors’ increasing demand for stocks at the heart of the American economy. One major contributor was Alphabet which rose 4.8% to lead gains on the Google-parent’s first day as one of the blue-chip index’s 30 components.

Wall Street ends higher as major tech-related shares jump
Reuters Videos88d 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.&nbsp;</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.&nbsp;</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>

Dow Addition And $85 Billion AI Bet Could Be A Game Changer For Alphabet (GOOGL)
Simply Wall St.89d agoneutral
Dow Addition And $85 Billion AI Bet Could Be A Game Changer For Alphabet (GOOGL)

Alphabet recently joined the Dow Jones Industrial Average, replacing Verizon and expanding the index’s exposure to digital advertising, cloud computing, and artificial intelligence through its diversified businesses. This elevation into the blue-chip benchmark has sharpened attention on Alphabet’s heavy AI and cloud investments, including its very large recent US$85.00 billion capital raise to fund data center and compute capacity. We’ll now examine how Alphabet’s entry into the Dow,...

Alphabet shares 'a good value play', analyst says
Reuters Videos89d agoneutralVIDEO
Alphabet shares 'a good value play', analyst says

<body><p>STORY: "A lot of people are kind of worried about their spending habits" regarding AI, Lang said, "but I think today is a good day. On June 29th, I think the stock is turning around here."</p><p>Alphabet shares climbed on Monday as the Google parent made its debut in the blue-chip Dow Jones Industrial Average, replacing Verizon Communications, and immediately ranking among its most influential members.</p><p>"And look, I mean, they came in with really strong earnings the last couple of quarters in April and in January," Lang noted. "And I don't think that that's going to reverse to the downside. And I think people are picking up Alphabet, Google here as a bargain right now coming into the next quarter, which they will report towards the end of July."</p></body>