The U.S. stock market closed higher on Monday, driven by the Biden administration's announcement of a probe into China's semiconductor sector. This move boosted the shares of national chipmakers, offsetting earlier losses stemming from a significant decline in consumer confidence.

Market Performance: The Dow Jones Industrial Average saw a 0.16% increase. The Nasdaq 100 surged by 1.01%, or 214 points, while the S&P 500 experienced a 0.73% growth.

Currency Market: The euro weakened by 0.22% against the dollar, trading at $1.04062 by 3:59 pm ET.

Stay tuned for further updates on this developing story.