By Rebecca Feng
Stocks are rallying Monday, with investors hitting pause on the rout that hit technology shares last week.
The tech-heavy Nasdaq is the strongest among U.S. stock indexes, adding nearly 2% today. Shares in Comcast are up about 6%. News it's splitting its tech and media businesses into two separate companies sent the stock higher.
Both the Nasdaq and S&P 500 would break five-session losing streaks if gains hold through day's end. The Dow Jones Industrial Average, which added Google parent Alphabet as one of its 30 stocks today, is poised to close above 52000 for the first time.
The Supreme Court meanwhile rejected President Trump's bid to fire Federal Reserve governor Lisa Cook with little legal scrutiny. Treasury yields were little changed after the decision, which didn't come as a surprise. The case has been closely watched by investors who treat Fed independence as a pillar of bond market stability.
Oil prices are reacting cautiously to the resumption of peace talks between the U.S. and Iran after several days of tit-for-tat strikes. Futures for Brent crude, the international benchmark, rose above $73 a barrel. Fighting over the weekend again heightened the risks to vessels transiting through the Strait of Hormuz.
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