Wall Street rises as chipmakers lead tech shares higher; Nasdaq up 1%

US stock indexes rose on Monday as gains in shares of chipmakers helped ease pressure on the battered technology sector at the start of another big week for corporate earnings.

Investors are eyeing results from Microsoft Corp, Tesla Inc, IBM and Intel this week to see how their business are coping with the threat of an economic slowdown triggered by the Federal Reserve's aggressive policy tightening.

Six of the 11 major S&P 500 sector indexes were up in early trading, with a 1.3% rise in tech stocks making them the biggest gainers.

Qualcomm Inc and Advanced Micro Devices Inc climbed 4.5% and 7%,