STOCKS | Nasdaq Rises as Chipmakers Rebound; Dow Slips

U.S. stocks ended mostly higher on Monday, led by gains in the Nasdaq and chipmakers as investors bought after Friday's sharp selloff. Investors were also relieved after Iran and Israel said they had halted attacks on each other, according to RTHK, following an appeal from U.S. President Donald Trump that they immediately "stop shooting."

The Dow Jones Industrial Average fell 80 points, or 0.2%, to 50,786, while the S&P 500 gained 21 points, or 0.3%, to 7,405 and the Nasdaq Composite rose 220 points, or 0.9%, to 25,929.

S&P 500 technology led sector advancers, rising 1.5%, and the Philadelphia SE Semiconductor Index jumped 5.6%, rebounding from Friday's losses that wiped out US$1 trillion in market value for U.S.-listed chipmakers. Intel shares gained 11.2% after the Information reported that Alphabet's Google had placed an order to manufacture more than 3 million tensor processing units in 2028.

Apple shares fell 1.9% even as the company unveiled a series of AI upgrades to Siri at its annual Worldwide Developers Conference in Cupertino, California. Broadcom rose 2.8% after underwhelming results last week helped fuel concerns that the chip sector was growing too fast, while stronger-than-expected May jobs data contributed to Friday's rout as traders priced in interest rate increases this year.