Dow Closes Above 52,000 for First Time as Alphabet Debuts in Index

The Dow Jones Industrial Average closed above 52,000 for the first time on Monday, June 29, rising 306.63 points, or 0.59%, to 52,182.74. Alphabet (GOOGL) climbed nearly 5% in its first session as a Dow member after replacing Verizon, according to BeInCrypto, while semiconductor stocks also rallied. The S&P 500 rose 1.18% to 7,440.43 and the Nasdaq Composite gained 2.07% to 25,820.14. The VanEck Semiconductor ETF rose more than 3%, led by Astera Labs, KLA and Applied Materials. The US and Iran agreed to pause hostilities and allow commercial vessels to transit the Strait of Hormuz freely.