The S&P 500 and Nasdaq Composite rose slightly on Monday, snapping a four-day losing streak, as tech shares tried to regain some of the steep losses from last week.
The broad S&P 500 gained 0.2 percent to 2,877.13, led by utilities and industrials, while tech shares rose 0.3 percent. The tech-heavy Nasdaq climbed 0.3 percent to close at 7,924.16 as Facebook shares rose 0.7 percent and Microsoft gained 1 percent. The Dow Jones Industrial Average slipped 59.47 points to close at 25,857.07, however, as Apple lost more than 1 percent. Transports, meanwhile, rallied 1.8 percent to an all-time high.
Tesla shares rose 8.5 percent after an analyst at Baird said investors should buy them "even with drama." The analyst cited the potential of Tesla's "Gigafactory" to give the company a competitive advantage long-term.
Technology stocks dropped nearly 3 percent last week as investors grappled with the possibility of stronger regulation for social media companies.
The Justice Department said last week Attorney General Jeff Sessions will meet with state attorneys general later in September to discuss worries surrounding tech companies that "may be hurting competition and intentionally stifling the free exchange of ideas on their platforms."
Semiconductor stocks rose, cutting losses from last week. The VanEck Vectors Semiconductor ETF (SMH) dropped 2.9 percent last week. The fund rose 1 percent on Monday, led by a 9.2 percent gain in Advanced Micro Devices and a 3.5 percent jump in Broadcom.