U.S. stock indexes were split on Monday as gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies.

The S&P 500 rose 0.2% after erasing an earlier fall of 0.9%. The Dow Jones industrial average climbed 358 points, or 0.9%, while the weakness for Big Tech stocks dragged the Nasdaq composite to a loss of 0.4%.

Stocks have been under pressure the last month, and the S&P 500 is coming off its fourth losing week in the last five as traders cull expectations for how much relief the Federal Reserve may deliver this year through lower interest rates.

Apple’s 1% slip and Meta Platforms’ fall of 1.2% were also among the heaviest weights on the market. Nvidia dropped nearly 2%.

Moderna tumbled 16.8% for the largest loss in the S&P 500 after giving a forecast for revenue this upcoming year that fell short of analysts’ expectations.

Macy’s fell 8.1% after saying it will likely report revenue for the last three months of 2024 that’s at or slightly below the low end of the forecasted range it had earlier given.

Edison International fell another 11.9% as wildfires continue to burn in the territory of its Southern California Edison utility.

On the winning side of Wall Street were oil-and-gas companies after the price of oil climbed. A barrel of benchmark U.S. crude rose 2.9% to $78.82, while Brent crude climbed 1.6% to $81.01. The Biden administration said Friday it’s expanding sanctions against Russia’s energy industry.

Exxon Mobil gained 2.6%, and Valero Energy jumped 4.9%.

Shares of U.S. Steel rallied 6.1% after the Biden administration pushed back to June the deadline it imposed for the Pittsburgh-based company to unwind its proposed acquisition by Japan’s Nippon Steel.

Intra-Cellular Therapies soared 34.1% after Johnson & Johnson said it would buy the biopharmaceutical company and its treatment for bipolar I and II depression for $132 per share in cash. Johnson & Johnson rose 1.7%.

All told, the S&P 500 added 9.18 points to 5,836.22. The Dow Jones Industrial Average rose 358.67 to 42,297.12, and the Nasdaq composite slipped 73.53 to 19,088.10.

In the bond market, the yield on the 10-year Treasury rose to 4.78% from 4.76% late Friday. It’s been climbing relentlessly over the last month, and it was below 3.65% just in September.

— Associated Press