The Dow Jones Industrial Average closed above 52,000 for the first time as Alphabet joined the index, contributing to a broader market rally.
The Dow rose by 306.63 points, or 0.59%, ending at 52,182.74. The S&P 500 gained 1.18% to close at 7,440.43, while the Nasdaq Composite increased by 2.07% to finish at 25,820.14.
Alphabet was one of the notable gainers, climbing nearly 5% on its first day trading as a Dow member. Meanwhile, shares of Comcast rallied 4.4% after the company announced it would spin off its media and tech businesses.
These moves come as Wall Street begins a shortened trading week, with U.S. markets set to be closed on Friday.
The U.S. and Iran agreed to pause hostilities and allow commercial vessels to transit the Strait of Hormuz freely.
These developments have led to a rise in oil prices as traders assess whether the pause in hostilities will hold.
