US technology shares recovered on Monday as investors bought stocks following last week’s retreat, lifting the Nasdaq Composite more than 1%. Companies linked to artificial intelligence were prominent among the gainers, with memory and semiconductor shares advancing alongside Amazon and Tesla. The recovery was uneven, however: Apple and Meta Platforms declined, while the Dow Jones Industrial Average finished slightly lower as Treasury yields rose.

The Nasdaq closed 1.1% higher and the S&P 500 gained 0.4%, while the Dow slipped 0.1%. Those moves followed a difficult week for the technology-heavy index, which lost 4.5% across five sessions, ending a four-week run of gains. The S&P 500 fell 2% last week, recording its fourth weekly decline in six weeks. The Dow had moved in the opposite direction, gaining 0.7% for its second consecutive weekly advance.

Monday’s trading therefore marked a reversal of the previous week’s relative performance, rather than a uniform advance across the major indexes. Technology shares regained ground while the Dow failed to extend its weekly momentum. The Nasdaq and S&P 500 both remained below their levels before last week’s declines. Monday’s percentage gains were smaller than their respective losses over those five sessions.

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Memory stocks delivered some of the strongest gains. Roundhill’s Memory ETF rose 4% after dropping nearly 6% on Friday, with Western Digital, Sandisk, Micron Technology and Seagate Technology advancing by up to roughly 6%. The iShares Semiconductor ETF gained almost 2%, following a 4% decline at the end of last week. Intel rose 2.5%, helped in part by a rating upgrade from JPMorgan. The fund movements showed a recovery from Friday’s selling, but not a full reversal of those losses.

Large technology companies also provided support, although their performance varied considerably. The Roundhill Magnificent Seven ETF advanced about 1.5%, led by Amazon’s 5% increase after Morgan Stanley analysts designated the company a top pick and raised their price target. Apple fell 0.2%, having been the only member of that group to rise on Friday. Meta Platforms declined 0.6%, while Tesla gained nearly 4%. The divergence underscored that the broader technology rebound included substantial gains in some stocks rather than strength throughout the group.

Corporate results will now provide another focus for investors. Meta and Tesla are scheduled to report earnings on Wednesday, following their contrasting share-price moves on Monday. SpaceX, formally Space Exploration Technologies, is due to release results on Tuesday. Its shares rose more than 1% after Elon Musk said overnight that he would give one of his SpaceX shares to every child in America next year, describing the proposed distribution as the first of many.

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The equity recovery came despite renewed upward pressure on government borrowing costs. The 10-year Treasury yield stood above 5. It had briefly reached 5. Favourable company-specific assessments from JPMorgan and Morgan Stanley accompanied gains in Intel and Amazon, while the reported late-afternoon Treasury yield remained below last Wednesday’s brief peak.

Energy markets offered another mixed signal as traders considered fighting in the Middle East alongside expectations of increased Russian supplies. At 4 p.m. ET, US benchmark West Texas Intermediate crude futures were up 2.3% at $103. Front-month Brent futures, the international benchmark, were down 0.5% at $109. The opposing moves meant the energy session did not present a single direction for oil prices, even as both factors remained in focus.

The dollar strengthened while gold futures declined. The US dollar index, which measures the currency against a basket of foreign currencies, rose 0.2% to 102.00. The dollar also gained 0.2% against the euro, which weakened amid nationwide protests in France over living costs. Bitcoin recovered to about $82,000 from overnight lows around $80,600, while gold futures fell 0.5% to $4,160 an ounce. Those movements added to the uneven pattern across assets beyond the technology-led equity advance.

Outside the US, takeover activity produced a sharp company-specific move in Australia. Cleanaway shares surged 20% after EQT announced an agreement to acquire the waste-management company. The transaction was valued at about $9.3 billion Australian dollars ($6.5 billion). That deal-driven gain contrasted with the US technology recovery, where purchases following recent declines and favourable analyst assessments helped lift shares ahead of scheduled corporate earnings releases.

The next results from SpaceX, Meta and Tesla will arrive with technology shares recovering but the recent sell-off still an important reference point. Monday’s gains demonstrated renewed buying in AI-linked businesses, memory companies and selected large technology stocks. They did not establish a market-wide advance: the Dow fell, some prominent technology names declined and Treasury yields rose. Upcoming earnings will provide fresh company information against that divided market backdrop.