NEW YORK, May 11 (Xinhua) -- U.S. stocks ended higher on Monday, as a continued rally in semiconductor shares helped Wall Street offset geopolitical anxieties and rising global energy prices.
The Dow Jones Industrial Average rose 95.31 points, or 0.19 percent, to 49,704.47. The S&P 500 added 13.91 points, or 0.19 percent, to 7,412.84. The Nasdaq Composite Index increased by 27.05 points, or 0.1 percent, to 26,274.13.
Six of the 11 primary S&P 500 sectors ended in the green. The energy and materials sectors led the gainers, rising 2.63 percent and 1.43 percent, respectively. Meanwhile, the communication services and consumer staples sectors led the laggards, declining 2.33 percent and 0.76 percent.
Geopolitical tensions remained a central focus for markets after Iran reportedly delivered a revised proposal to U.S. negotiators calling for an end to the prolonged conflict and the removal of sanctions on Tehran, according to Iran's Tasnim news agency. However, U.S. President Donald Trump pushed back sharply on the proposal in a Truth Social post, calling Iran's response "totally unacceptable."
The apparent stall in negotiations sent oil prices climbing. West Texas Intermediate crude for June delivery increased by 2.65 U.S. dollars, or 2.78 percent, to settle at 98.07 dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery gained 2.92 dollars, or 2.88 percent, to close at 104.21 dollars a barrel on the London ICE Futures Exchange.
In the equities market, the technology sector provided robust support, driven by a broadening rally in the semiconductor industry. Chipmakers Intel and Micron Technology, which had already surged 14 percent and 16 percent respectively on Friday to set new record highs, extended their impressive runs. Intel closed up an additional 3.62 percent, while Micron advanced a further 6.5 percent on Monday.
In other notable post-earnings corporate moves, shares of stablecoin issuer Circle Internet Group soared 15.91 percent, and media giant Fox advanced 8.09 percent. Conversely, Constellation Energy slipped 1.3 percent.
Looking ahead this week, market participants are bracing for a critical slate of fresh economic data. The upcoming April consumer and producer inflation reports will be closely monitored by investors and Federal Reserve officials alike to determine how significantly the recent spike in oil prices is feeding into broader domestic price pressures.
