Dow ends higher as chip stocks weigh on broader market

US stock indices closed mixed on Monday, pressured by weak performance in the chip sector and continued selling in US Treasuries, while oil prices extended gains amid uncertainty over the outlook for the Middle East conflict.

The Dow Jones Industrial Average inched up 0.32%, or 159 points, to 49,686 points.

The S&P 500 remained stable at 7,403, while the Nasdaq Composite slipped 0.51%, or 134 points, to 26,090 points, marking its second consecutive daily loss.

In Europe, the Stoxx Europe 600 gained 0.54% to 610 points, supported by positive performance across most sectors, including energy.

Britain’s FTSE 100 fell 1.26% to 10,323 points, Germany’s DAX lost 1.49% to 24,307 points, and France’s CAC 40 shed 0.44% to 7,987 points.

In Japan, the Nikkei 225 decreased 0.95% to 60,815, while the broader Topix index declined by a similar margin to 3,826.

Brent crude futures for July delivery rose 2.60%, or $2.84, to $112.10 a barrel, while WTI crude futures for July delivery gained 3%, or $3.24, to $108.66 a barrel.

Gold futures for June delivery edged up 0.10%, or $3.9, to settle at $4,558 an ounce.

Chip stocks came under pressure after the CEO of Seagate Technology said building new factories would take a long time.

Markets were also clouded by uncertainty over the US-Iran conflict outlook after US President Donald Trump said over the weekend that time was running out for Iran, while reports indicated Tehran had submitted a revised negotiation proposal to Washington.