Make-or-break week begins with a mixed session on Wall Street

Seven of 11 S&P 500 sectors closed in positive territory. Communication Services and Consumer Staples led the way, each gaining around 1.5%. Energy was the weakest performer, falling 2%.

Energy stocks were dragged lower by a sharp decline in oil prices. NYMEX crude futures have tumbled more than 8% since the weekend after the U.S. unexpectedly halted its airstrike campaign against Iran, boosting hopes that a diplomatic path forward could reduce tensions and keep shipping lanes through the Strait of Hormuz open.

Beneath the surface, Software & Services was a standout, rising around 2.5%. Transports and semiconductors lagged. Chip stocks came under pressure after a report suggested China has made progress in developing deep ultraviolet (DUV) lithography tools.

Even so, the semiconductor group showed some resilience. The PHLX Semiconductor Index, down more than 5% at its session low, recovered sharply to finish down 2.2%. Importantly, it held above its July 17 low during the selloff.