U.S. stocks closed mostly higher on Monday, driven by the Nasdaq's gains and a surge in chip stocks.

U.S. stocks closed mostly higher on Monday, primarily driven by the Nasdaq's gains and a surge in chip stocks, as investors seized bargain opportunities following a steep decline last Friday. The peaceful halt of Iran and Israel's exchanges after an appeal by U.S. President Donald Trump provided additional relief in the market. Despite the Dow ending slightly lower and stocks not retaining their peak levels throughout the day, the technology sector led gains with notable recovery in the semiconductor index, alleviating fears after substantial losses last week. Apple's shares eased after the announcement of AI updates to Siri, while Intel rose following Google's large-scale chip order. Market analysts noted the investor response to recent developments as bargain hunting, with concerns persisting about the overextension of stock prices amidst mixed economic signals. Meanwhile, SpaceX's IPO and strong performances by companies like Marvell Technology and Eli Lilly added to the market's cautious optimism. (With inputs from agencies.)

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