Closing Bell: 'Cars 3' Speeds to Number One; S&P 500, Dow at Closing Records

Wall Street enjoyed big gains as tech names recovered from last week's selloff and the Dow Jones Industrial Average and S&P 500 secured new closing records. The Nasdaq rose more than 1%. Walt Disney's  (DIS) - Get Report 'Cars 3' dominated the weekend box office, toppling 'Wonder Woman' from the number one perch. The third installment in the franchise brought in $53.5 million at domestic theaters. Snap Inc. (SNAP) - Get Report rose more than after signing a two-year $100 million dollar deal with Time Warner (TWX) . The two agreed to create up to TEN original programs per year, including scripted comedy and drama. Costco (COST) - Get Report was downgraded to hold from buy at Deutsche Bank. Analysts said the bulk-purchase retailer would see increased competition following the Amazon-Whole Foods deal. Goldman Sachs downgraded Costco last week.