Oil prices up, Asian shares slip after tech rally on Wall St – Raleigh News & Observer

Big technology and communications stocks made solid gains and helped lift the broader market in afternoon trading on Wall Street Monday.

The S&P 500 rose 0.5% as of 1:54 p.m. Eastern. The Dow Jones Industrial Average rose 22 points, or 0.1%, to 34,842 and the Nasdaq rose 1.6%.

More stocks were losing ground than making gains within the benchmark S&P 500, but big technology and communications stocks did the heavy lifting to offset losses elsewhere. Tech companies, with their pricey stock values, tend to have more weight in pushing the market up or down.

Twitter surged 29.7% after the company disclosed that Tesla’s Elon Musk had taken a 9.2% stake in the social media platform. In recent weeks Musk has publicly questioned the company’s commitment to free speech. The gains were a key factor in lifting the broader communications sector and keeping the S&P 500 in the green.

Investors continue to monitor the conflict in Ukraine, where Russia could face even stricter economic…

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