Wall Street ends higher as major tech-related shares jump

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%.Several tech stocks that had fallen recently due to concerns about AI spending rebounded on Monday. 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.“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.”Among those Magnificent 7 names that rose on Monday: Google parent Alphabet, which gained about 5% in its first day as a Dow component. 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.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.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.