Chip stocks staged a strong comeback on Monday, with the PHLX Semiconductor Sector Index climbing more than 5% after Friday's sharp selloff. Intel led the rally, jumping roughly 11% following reports that Google and Nvidia view the company as a backup chip-making option. The recovery came after a brutal market session that saw major indexes tumble.

Marvell Technology added to the semiconductor momentum, rising over 9% after S&P Dow Jones Indices confirmed its entry into the S&P 500. Broader market indicators showed mixed results: the S&P 500 edged up 0.3%, the Nasdaq gained 0.9%, while the Dow slipped 81 points to close at 50,786.

Apple previewed an AI-enhanced Siri that will function more like a generative chatbot, developed in partnership with Google for a fall release. Despite initial optimism, Apple shares fell 1.9% by day's end. Meanwhile, oil prices remained elevated as Middle East tensions persisted despite the Israel-Iran ceasefire.

The IPO market discussion highlighted typical first-day returns averaging 19%, though institutional allocation often leaves retail investors with limited access. SpaceX's anticipated offering could buck this trend given Elon Musk's profile, but intense demand may still squeeze out average investors.

Semiconductor stocks' rebound signals renewed investor confidence after last week's volatility, with Intel's surge particularly noteworthy given its strategic positioning in the AI chip supply chain.