Nasdaq Leads as Semiconductor Stocks Rebound; Dow Slips

The Nasdaq Composite gained 0.86% to close at 25,929.66 on Monday, the S&P 500 added 21.99 points to finish at 7,405.73, and the Dow Jones Industrial Average slipped 80.77 points to 50,786.01. The session marked a partial recovery after Friday’s selloff that sent the Nasdaq down about 4.2% and erased roughly $1 trillion in market value from US-listed semiconductor firms.

Semiconductor stocks led Monday’s advance as investors returned to chip names. Micron Technology jumped about 10% after a 13% drop on Friday. Nvidia and Broadcom also traded higher, and the Philadelphia Semiconductor Index rose with the sector. Marvell Technology is scheduled to join the S&P 500 before trading opens on June 22. Intel shares moved up after reports that Alphabet’s Google ordered more than 3 million tensor processing units for delivery in 2028.

The earlier decline in chip shares followed weaker-than-expected results from Broadcom and stronger US jobs data that raised the prospect that interest rates could remain higher for longer. Those factors intensified selling in technology stocks tied to artificial intelligence and data-center demand during the prior session.

Markets also reacted to developments in the Middle East. Iran and Israel indicated they had halted attacks after a US appeal, ending a roughly 24-hour exchange of strikes that was their most direct confrontation since an April ceasefire. Oil prices initially rose after Israel described a large-scale strike on strategic defense systems, but crude pared gains after Iran’s foreign ministry said military operations had ended. West Texas Intermediate crude traded near $91 per barrel, about 1% higher on the day.

Traders are focused on several major events later in the week, including the release of US inflation data and the expected public debut of SpaceX, which is scheduled to be among the largest IPOs on record.

Not all large technology names moved higher. Apple shares slipped late in the session despite the company announcing new artificial intelligence upgrades to Siri at its Worldwide Developers Conference. In healthcare, Eli Lilly shares rose after clinical trial data showed its obesity candidate retatrutide reduced the severity of sleep apnea while producing significant weight loss and improvements in knee pain.

With earnings, economic releases and the SpaceX listing ahead, investors are watching whether the rebound in semiconductor stocks and calmer geopolitical headlines will continue to influence market direction.