Update: Dow Crosses 53,000, Nasdaq Rebounds as Tech Advances

(Updates with market moves at the end of the day.) The Dow Jones Industrial Average clinched a fresh peak Monday, while the technology-heavy Nasdaq Composite rose after declining for two consecutive sessions. The Dow rose 0.3% to close at 53,055.9, logging a new high after last week's record run and its first close above 53,000. The Nasdaq Composite advanced 1.1% to 26,121.2, while the S&P 500 added 0.7% to 7,537.4. US markets were closed Friday in observance of the Independence Day holiday. Among sectors, communication services paced the gainers, while healthcare saw the steepest decline. The tech sector also advanced. In company news, Advanced Micro Devices (AMD) shares jumped 6.6%, among the biggest gainers on the S&P 500, as Goldman Sachs raised its price target on the stock to $640 from $450. Rival chipmaker Qualcomm (QCOM) was also a notable gainer on the S&P 500, while Nvidia (NVDA) moved higher. Cisco Systems (CSCO) shares rose 1.5%, among the Dow's best performers. IBM (IBM) was the second-biggest gainer on the Dow, up 3.5%. The computer and software company is expected to post a solid second quarter and modestly raise its full-year guidance, supported by continued.