US Stock Market Indexes Close Higher Amid Semiconductor Probe

The major stock market indexes in the United States closed higher on Monday, following the announcement by President Joe Biden's administration of a probe into China's semiconductor sector. This move positively impacted national chipmakers' shares, leading to significant gains in the stock market.

The news offset earlier losses that were triggered by a major decline in consumer confidence. The Dow Jones Industrial Average rose by 0.16%, with Nvidia Corporation witnessing a 3.69% jump. The Nasdaq 100 increased by 1.01%, or 214 points, driven by a 5.54% surge in Global Foundries Inc. The S&P 500 grew by 0.73%, with Broadcom Inc. soaring by 5.24%.

In the currency market, the euro fell by 0.22% against the dollar at 3:59 pm ET, trading at $1.04062.