US stocks experienced a mixed trading session on Monday as investors awaited key signals on the near-term path of interest rates. The S&P 500 hovered around the flatline while the tech-heavy Nasdaq Composite inched up 0.1% after both indices reached new record highs on Friday. The Dow Jones Industrial Average slipped 0.2% after erasing earlier session gains.

The S&P and Nasdaq are seeking to build on their record-breaking performances following Friday's jobs report, which indicated a continued slowdown in the labor market. This led to an increase in bets on a rate cut from the Federal Reserve in September, with around 75% of traders expecting such a cut, according to the CME FedWatch tool.

Several events throughout the week could further reinforce the growing momentum for a rate cut. Federal Reserve Chair Jerome Powell is scheduled to appear before Congress for semiannual testimony on Tuesday and Wednesday. Additionally, the latest Consumer Price Index (CPI) print is set for release on Thursday, with economists anticipating a 3.1% increase in headline inflation over the past year, matching the lows where the CPI began this year.

In other market-moving news, a left-wing coalition in France secured the most votes in the country's election, surprising the far-right party that hoped to secure a parliamentary majority. As a result, the benchmark French index rose slightly.

There were developments in the corporate sector as well. Boeing pleaded guilty to a criminal conspiracy charge related to two fatal 737 Max crashes, causing its shares to rise nearly 1%. Meanwhile, Tesla stock bounced back from early losses and extended its eight-day winning streak.

The performance of chip stocks stood out during Monday's session, with the iShares semiconductor ETF gaining over 1.5%. Notably, Nvidia rose 2%, AMD soared 3%, and Intel increased by approximately 5%. These chipmakers also contributed to the Nasdaq Composite maintaining positive territory, while the Dow Jones Industrial Average saw a slight decline and the S&P 500 remained near the flatline.

Bitcoin held steady around the $56,000 per token mark after experiencing a decline over the past week. Concerns related to the repayment of creditors by defunct crypto exchange Mt. Gox and the German government's large Bitcoin sale may have put downward pressure on the cryptocurrency. Bitcoin slid as much as 5% in the past 24 hours, reaching almost $19,000 below its March record high.

In the entertainment industry, Paramount stock dropped about 3% following the announcement of a merger with Skydance Media. This merger would mark the end of the Redstone family's control over the company. National Amusements, the Redstone family's holding company, owns around 10% of Paramount's equity capital value and maintains 77% of voting shares valued at approximately $1 billion.

The trading session saw a loss of momentum by midday, as the S&P 500 dipped below the flatline and the Dow Jones Industrial Average slipped nearly 0.2%. However, semiconductor stocks helped the Nasdaq Composite maintain slight gains. Nvidia, Broadcom, and Intel were among the biggest gainers.

Nvidia shares rose over 2% after several Wall Street analysts increased their price target on the AI chip heavyweight. UBS raised its price target to $150 from $120, while Wolfe Research raised its forecast to $150 from $125. Year-to-date, Nvidia's stock has gained nearly 160%.

Tesla's stock turned positive after initially opening in the red, as the company aimed to extend its impressive eight-day rally. The stock has surged by about 37% during this winning streak, erasing year-to-date losses since hitting 52-week lows in April.

The Dow Jones Industrial Average rose more than 200 points, or 0.6%, buoyed by the strong performance of Intel and Boeing shares. Intel saw a more than 5% increase after Melius Research highlighted its potential to benefit from AI enthusiasm in the second half of the year. Boeing's stock rose following the company's guilty plea on a criminal conspiracy charge.

Overall, stocks edged higher on Monday, with the S&P 500 rising 0.1%. The Nasdaq Composite also posted slight gains, while the Dow Jones Industrial Average nudged up by about 0.2%. The markets aimed to build on the records achieved after Friday's jobs report signaled a cooling labor market. Investors will closely watch forthcoming data, including the release of the Consumer Price Index on Thursday, and statements from Federal Reserve Chair Jerome Powell during his congressional testimony.