Micron jumped 8.8 percent and Nvidia climbed 1.8 percent.
Shares of companies such as Boeing Co, down 2.6 per cent, and Caterpillar Inc, down 2.3 per cent, have been under pressure as Trump's protectionist stance on steel and aluminum imports could increase costs and hamper sales overseas.
"The big multinational, industrial companies of the world are all taking a hit on the concern that they will be the targets of reprisal sanctions", said Robert Phipps, a director at Per Stirling Capital Management in Austin.
Retailers including Amazon and Starbucks also made headway. The tech-heavy Nasdaq composite dropped 1 percent and snapped a seven-day winning streak. By 11:51 a.m. ET, the S&P 500 was down just 0.1 percent at 2,783.96.
Having started the day on a positive note, key share indices in the United States traded on a mixed note through the session on Monday, with the Nasdaq Composite clocking a record closing high, and Dow Jones Industrial Average and S&P 500 ending lower. Over the year, average hourly earnings have increased by 68 cents, or 2.6 percent, lower than market expectations. Bank of New York Mellon gave back 1.3 percent and Nvidia, a chipmaker, rose 2.5 percent.
Wall Street struggled to hold on to early gains on Monday as losses in industrial stocks including Boeing and Caterpillar more than offset gains in chipmakers and technology companies.
Dolphins reportedly agree to terms with former Patriots receiver Danny Amendola
As for the Patriots, they should still be fine at wide receiver for next season even with Amendola's absence. However, he must have liked Miami's offer enough to decide to leave the perennial Super Bowl contenders.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.88 percent.
European markets were higher today, with the Spanish Ibex Index rising 0.56 percent, STOXX Europe 600 Index gaining 0.37 percent and German DAX 30 index gaining 0.75 percent.
Johnson Controls was up 1.6 percent after saying it would consider selling a business that makes batteries for vehicles.
Ocular jumped 27 percent after laser and optical fibre specialist Lumen Holdings said it would buy the optical components producer for $1.7 billion.
The S&P 500 posted 61 new 52-week highs and no new lows; the Nasdaq Composite recorded 211 new highs and 24 new lows.
The Dow Jones industrial average rose 71 points, or 0.3 percent, to 25,410. London's FTSE 100 fell 0.1 percent to 7,208.