U.S. stock indexes rose on Monday, helped in part by a substantial increase in chipmaker share prices.

In particular, shares of Advanced Micro Devices rose 6.6%, Texas Instruments gained 3.6%, Western Digital climbed 7.1%, Qualcomm Inc. added 5.8%, Nvidia Corp. edged up 0.4%, and Intel Corp. advanced 1.5%.

Broadcom rose 3.7% on news of the expansion of its technology partnership with Apple Inc. through 2031. The companies signed multi-year agreements under which Broadcom will develop and supply a range of custom chips for several generations of Apple products.

Micron Technology and Ford Motor announced the signing of a long-term agreement to supply semiconductor components for use in the production of next-generation vehicles. Micron Technology shares rose 1%, while Ford gained 3.5%.

However, some analysts believe the semiconductor sector will remain volatile in the near future.

Also this week, the minutes of the Federal Reserve's June meeting will be released, while on Thursday and Friday PepsiCo and Delta Air will publish their financial results for the past quarter, kicking off another earnings season.

According to LSEG IBES, analysts on average expect S&P 500 companies' second-quarter earnings to have risen 24%, while in the technology sector they surged 65%.

Rivian shares jumped 8.1% on Monday. The electric vehicle manufacturer said revenue for the second quarter totaled $1.55-1.65 billion. Experts surveyed by LSEG had on average forecast $1.45 billion.

In addition, shares of Boeing Co. rose 3.6%, International Business Machines gained 3.5%, Alphabet Inc. added 1.8%, Apple rose 1.3%, Amazon.com Inc. gained 0.6%, and Tesla jumped 6.7%.

At the same time, Microsoft Corp. shares lost 1% after a report that the company is cutting 4,800 jobs, representing 2.1% of its workforce.

Solstice Advanced Materials plunged 15.1%. The specialty chemicals and advanced materials maker announced the acquisition of chemicals company Element Solutions for about $14.5 billion.

Shares of Walt Disney Co. fell 2.1%, Keurig Dr Pepper Inc. dropped 4.7%, Nike Inc. lost 1.7%, Coca-Cola Co., Procter & Gamble Co. and Visa Inc. declined 1.4%, ExxonMobil slipped 0.4%, and Chevron Corp. fell 0.7%.

The Dow Jones Industrial Average rose 155.84 points (0.29%) on Monday to 53,055.91.

The Standard & Poor's 500 added 54.19 points (0.72%) by the close of trading to 7,537.43.

The Nasdaq Composite gained 288.49 points (1.12%) and ended the session at 26,121.16.