US stocks climbed their way out of negative territory by the closing bell, boosted by tech stocks.
The Dow Jones Industrial Average erased its 500-point drop, ending the day around 35 points higher.
Microsoft Corp (NASDAQ:MSFT), Intel Corp (NASDAQ:INTC), IBM Corp (NYSE:IBM) and Cisco Systems Inc (NASDAQ:CSCO) were among the top gainers on the index.
The S&P 500 was up less than 5 points by the end of the trading day.
Northrop Grumman Corporation (NYSE:NOC) was a top gainer after reports that President Trump backed plans for a $750 billion military budget request.
The tech-heavy Nasdaq rose more than 50 points slipped about 220 points, boosted by chipmakers Nvidia Corp (NASDAQ:NVDA) and Micron Technology Inc (NASDAQ:MU) as well as Facebook Inc (NASDAQ:FB) and IDEXX Laboratories Inc (NASDAQ:IDXX).
The Russell 2000 was down about 0.03% by the closing bell.
Tivity Health Inc (NASDAQ:TVTY) was one of the worst-performing stocks on the small-cap index after its acquisition of Nutrisystem Inc.
Up north, the TSX fell about 70 points as energy and healthcare stocks fell.
1:15 PM: US stocks still trading in red, but tech stocks revive
US stocks dipped in Monday’s afternoon trading session as the impact of a postponed Brexit vote in the UK and concerns over interest rates and tepid economic growth weighed on markets.
Mounting fears that a loosely-held trade truce between the US and China could unravel in the wake of the arrest of Meng Wanzhou, the CFO of the smart phone maker Huawei, who is accused of working to dodge US sanctions on Iran also cast a pall over markets.
In other news, Apple shares slipped by 2% but went on to recover to break-even levels at $168.74 on the back of an unfavorable legal ruling. In the latest twist in the long-standing legal battle between Apple and Qualcomm, a Chinese court has called for Qualcomm to receive an injunction against the iPhone maker, which bans some iPhone models in China. Apple is fighting to overturn the ruling via an appeal.
The S&P 500 basket of financial stocks was down by 1.65% while energy stocks were also taking a battering, shedding 2.18% after being dragged downwards by a fall in crude oil prices.
The bright spot were tech stocks, which were trading 0.85% higher in line with the recovery in Apple shares.
As the afternoon trading session got rolling, the Dow Jones Industrial Average Index had pared back its losses somewhat, but was still trading 148 points lower at 24,241 while the S&P 500 shed 10.4 points to 2,622.
After briefly turning positive, the tech-laden Nasdaq also lost 4 points to 6,965 while the Russell 2000 Index of small-cap stocks fell by 10 points to hit 1,437.
Up in Canada, Toronto’s TSX shed 95 points to 14,700, pulled back by energy stocks and moving in parallel with US markets.
10:00 AM: US stocks consolidate in early trade after Friday crash, looks for leads
US stocks were barely changed Monday following a steep crash at the end of last week, although worries over the fate of Brexit continue to swirl in financial markets.
The selloff on Friday was sparked by risk aversion among investors, with tech stocks getting mauled.
The Dow Jones Industrial Index was off 0.2% to 24,344. On Friday, it sank over 558 points to 24,388.
The tech-heavy Nasdaq added almost 0.6% to 7,009. The index sank over 219 points on Friday to 6,969.
The S&P 500 rose 0.03% to 2,633.
The Russell 2000 small cap index slipped 0.06% to trade at 1,447.
In Canada, the TSX was down about 142 points to trade at 14,795.
In Europe, the FTSE 100 is down around 13 points to 6,764, while the German DAX is off around 78 points at 10,709.
In Asian markets, the Nikkei 225 in Japan sank 459 points to 21,219, while the Shanghai Composite Index fell around 21 points to 2,584.
8:00 AM: US stocks poised to continue to decline after global sentiment got hit last week; Brexit worries plague the UK
US stocks are seen starting in the red on Monday after crashing Friday, while European stocks are also seeing red, as in the UK, Brexit worries continue to swirl.
Shares on Wall Street were sold off Friday as investors shunned risk and tech stocks got hammered.
The Dow Jones Industrial Index shed over 558 points at 24,388, while the tech-heavy Nasdaq tanked over 219 points at 6,969. The S&P 500 shed nearly 63 points at 2,633.
Bellwether Caterpillar Inc (NYSE:CAT), DowDuPont Inc, Intel Corp, and IBM Corp were among the top decliners on the Dow Jones.
In futures trade today (Monday), the Dow Jones is down 101 points, while the Nasdaq is down 26 and the S&P 500 is down 10 points.
In focus is the SoftBank IPO, which is raising $23.5 billion from the flotation of its Japanese mobile business. It is the second biggest stock market listing ever.
Demand has meant the company has increased the number of shares available by 160 million.
In Europe, FTSE 100 is down around a point at the time of writing; the German DAX is off around 70 points at 10,718 and the French CAC 40 is 32 points lower.
In Asian markets, the Nikkei 225 in Japan plunged 459 points, while the Shanghai Composite Index fell around 21 points at 2,584.
Dean Popplewell, at Forex group Oanda, said: "Global equities remain under pressure, extending last week’s losses amid a potential escalation between the world’s two largest economies, and after signs China’s economy remains under pressure.
He added: "Dampening investor sentiment was weak data on China’s slowing economy and news that China had summoned the U.S and Canadian ambassadors to protest the arrest of Huawei CFO.
"The euro remains better bid on pullbacks and the dollar trades mixed while U.S Treasuries and European sovereign bonds are little changed."