Markets Right Now: A mixed finish for U.S. stock indexes

E-mini NASDAQ-100 Index

Technology (+0.3%) was among the top-performing sectors, with chipmakers setting the pace amid reports that Intel might look to acquire Broadcom, which is itself in pursuit of a deal for Qualcomm.

The Dow Jones Industrial Average closed 157.13 points, or 0.62 per cent lower, at 25,178.61, the S&P 500 lost 3.55 points, or 0.13 per cent, to 2,783.02 and the Nasdaq Composite added 27.51 points, or 0.36 per cent, to 7,588.32. The UK's FTSE index was trading higher by 0.02 percent, while French CAC 40 Index rose 0.29 percent.

Oclaro (OCLR.O) jumped 25 percent and was the most traded stock premarket after laser and optical fiber specialist Lumentum Holdings (LITE.O) said it would buy the optical components producer for $1.7 billion. The Nasdaq composite jumped 1.8 percent to 7,560.81. Benchmarks in New Zealand, Taiwan and Southeast Asia also rose.

Inflation worries faded on Friday after United States data showed nonfarm payrolls jumped by 313,000 jobs last month, but annual growth in average hourly earnings slowed to 2.6 per cent after a spike in January.

The S&P 500 index fell 4 points, or 0.2 percent, to 2,782 as of 10:10 a.m. That helped to dampen inflation concerns that triggered the market's swoon.

TRADE WAR?: China's commerce minister said Beijing wants to resolve disputes with Washington through negotiations but vowed to defend Chinese interests. Zhong Shan gave no indication Beijing planned to make good on earlier threats to retaliate following U.S. President Donald Trump's decision to raise import duties on steel and aluminum.

The Treasury Budget was the only leading report on the economic calendar Monday.

ANALYST'S TAKE: "U.S. employment data hit a sweet spot on Friday night". Netflix is the outlier to Monday's performance of FAANG stocks, of which Amazon (AMZN), Apple (AAPL) and Google (GOOG, GOOGL) all set record highs, contributing to solid gains in the technology sector and a record high in the Nasdaq. "Any initial enthusiasm may ease as investors digest further trade war rhetoric".

Despite recent gains the index is still down four per cent year to date, with Canada's markets still lacking the sparks of the US economy, said Michael Currie, vice-president of TD Wealth Private Investment Advice. -South Korean military exercises.

Bellwether exporting and metal-using stocks Caterpillar and Boeing fell victim to the trade tariff controversy, weakening the Dow industrials. Brent crude, used to price global oils, shed 76 cents, or 1.2 percent, to $64.73 a barrel in London. It surged $1.88 the previous session to $65.49.

CURRENCY: The dollar slid to 106.46 yen from 106.77 yen late Friday.

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