BANKS LIFT DOW AND SEMICONDUCTOR SHARES WEIGH ON NASDAQ

Banking stocks lifted the Dow, while semiconductor shares weighed on the Nasdaq on Monday as focus moves to labor market data due later in the week for cues on the Federal Reserve's monetary policy path. The S&P 500 banking index jumped 1.3% to its highest in more than a month, with shares of JP Morgan Chase touching an all-time high. Benchmark U.S. Treasury yields jumped to their highest in over two weeks.

AI chip firm Nvidia fell 1% and other semiconductor stocks such as Micron Technology and Advanced Micro Devices dipped 2.4% and 4.5%, respectively. The Philadelphia SE Semiconductor index was down 1.3%.

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