US markets end higher as tech stocks rise

US stocks closed higher on Monday as technology shares rebounded from recent steep losses, lifting appetite for risk assets ahead of next week’s Federal Reserve meeting.

The Dow Jones Industrial Average finished flat at 51,966.

The S&P 500 gained 0.41%, or 31 points, to 7,690, while the Nasdaq Composite rose 1.11%, or 290 points, to 26,430.

In Europe, the STOXX 600 fell 0.80% to 639.

Britain’s FTSE 100 dropped about 1.10% to 10,764, Germany’s DAX lost 1.18% to 25,319, and France’s CAC 40 declined 1.11% to 7,868.

In Japan, the Nikkei 225 fell 0.62% to 64,916, while the broader TOPIX finished flat at 4,067.

Brent crude futures for December delivery settled 0.28%, or 31 cents, lower at $109.55 a barrel.

U.S. West Texas Intermediate crude futures for November delivery jumped 2.22%, or $2.25, to $103.66 a barrel.

Gold futures for December delivery fell 0.50%, or $21, to $4,160.10 an ounce.

Market drivers

Investors returned to technology and artificial intelligence stocks after last week’s sharp selloff. However, concerns over debt and slowing growth in investment returns kept sentiment cautious as investors awaited earnings from major companies and energy supply disruptions persisted.