Key Takeaways

Major U.S. indexes were mixed at midday Monday to start the holiday-shortened trading week . The markets will close early Tuesday for Christmas Eve, and remain closed on Christmas. The Dow was lower, while the S&P 500 and Nasdaq gained.

Chip stocks advanced, led by Broadcom ( AVGO ) after UBS analysts raised their price target for the stock, citing the chipmaker's artificial intelligence (AI) revenue growth. Advanced Micro Devices ( AMD ) shares also surged after Rosenblatt analysts called it a "top pick" on its AI-driven potential.

Tesla ( TSLA ) shares gained after Barclays analysts suggested the electric vehicle (EV) manufacturer could report better-than-expected deliveries for the fourth quarter.

Shares of Xerox Holdings ( XRX ) rose after the office products maker purchased rival Lexmark International for $1.5 billion .

Shares of sleep apnea machine maker ResMed ( RMD ) slumped after the Food and Drug Administration (FDA) approved Eli Lilly’s ( LLY ) weight-loss treatment Zepbound to treat some sleep apnea patients . Eli Lilly shares climbed.

Shares of Nordstrom ( JWN ) fell after the retailer announced it is being taken private by its founding family and a Mexican retail group.

Oil and gold futures fell. The yield on the 10-year Treasury note was up. The U.S. dollar was higher versus the euro, pound, and yen. Prices for most major cryptocurrencies were lower.

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