Stocks rose on Monday, starting the holiday-shortened week on a high note, as investors cheered the ceasefire agreement between the United States and Iran and SpaceX (SPCE  ) continued its blockbuster rally.

The Dow Jones Industrial Average (DIA  ) added more than 450 points to settle at a record close of 51,671.03. The 30-stock index also reached a fresh record intraday high. The broader market S&P 500 Index (SPY  ) and tech-heavy Nasdaq Composite (QQQ  ), meanwhile, popped about 1.7% and 3% to end the session at 7,554.29 and 26,683.94, respectively.

Driving the market, President Donald Trump late Sunday wrote in a post on his social media platform Truth Social that a deal with Iran was "now complete," adding that he has directed the U.S. Navy to authorized the "toll free opening of the Strait of Hormuz," and "immediate removal," of the nation's blockade.

"Ships of the World, start your engines. Let the oil flow!," the president wrote.

Washington and Tehran have electronically signed a memorandum of understanding, according to multiple news outlets, with a formal signing ceremony in Switzerland expected on Friday.

"Our expectation is that the Strait is going to be opened in a toll-free way for the long team, and that's the sort of thing that we're going to figure out in these technical negotiations," Vice President JD Vance told CNBC in an interview on Monday.

Key players in the travel sector popped on the news, with United Airlines (UAL  ), Delta Air Lines (DAL  ), Carnival Cruise (CCL  ), and Royal Caribbean (RCL  ) all amongst the gainers on Monday.

Conversely, energy stocks tumbled as U.S. oil prices fell near $80 per barrel on Monday following the deal. Stocks including Marathon Petroleum (MPC  ), Chevron (CVX  ) and Exxon Mobil (XOM  ) each fell around 3%.

Also moving markets, SpaceX shares soared nearly 20% on Monday, adding to the 19% gain following its public debut on Friday. The stock, heavily tied to the artificial intelligence market, is the largest IPO to date, with a market value of $2.1 trillion.

Elsewhere, Fox (FOX  ) has entered into a $22 billion deal to acquire Roku (ROKU  ) in a cash-and-stock transaction, the companies announced on Monday. The company said it obtained a $12 billion loan for the transaction. The merger, which is expected to close in the first half of 2027, will combine Fox's news and sports channels and its ad-supported Tubi streaming platform with Roku.

"I'm incredibly proud of what our team has built, and the combination with FOX is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers," Anthony Wood, founder, chairman and CEO of Roku, said in a press release.