Nasdaq and S&P 500 climb Monday as chip stocks rebound from a volatile week

US stocks rose during Monday's session (20 July) as chip stocks recovered from last week's sharp selloff. As of 11:49 a.m. Eastern time, the Nasdaq Composite was up about 0.58 percent and the S&P 500 roughly 0.28 percent, while the Dow Jones Industrial Average slipped 0.24 percent to about 52,023 points.

The Philadelphia Semiconductor Index, which had fallen into bear-market territory on Friday, gained about 2.3 percent, with memory-chip makers leading the recovery. Alphabet (Google) added roughly 2.9 percent after a report that it is developing a Gemini-integrated server chip, helping lift the indexes.

The market heads into a busy week of second-quarter earnings, with Alphabet, Tesla, Intel and IBM all due to report. The backdrop was the intensifying US-Iran military tensions and sharp swings in oil prices, which investors are watching closely.