U.S. stocks rise as tech rallies

NEW YORK, April 4 (Xinhua) — U.S. stocks ended higher on Monday, bolstered by solid gains in tech names.

The Dow Jones Industrial Average rose 103.61 points, or 0.30 percent, to 34,921.88. The S&P 500 was up 36.78 points, or 0.81 percent, to 4,582.64. The Nasdaq Composite Index jumped 271.05 points, or 1.90 percent, to 14,532.55.

Four of the 11 primary S&P 500 sectors ended in green, with communication services and technology up 2.28 percent and 1.91 percent, respectively, among the best performers. Utilities slipped 0.79 percent, the worst-performing group.

Twitter shares soared more than 27 percent following news that Tesla CEO Elon Musk purchased a 9.2 percent stake in the social network.

Shares of other major U.S. tech giants, such as Apple, Meta Platforms, Amazon, Netflix, and Google-parent Alphabet, all closed higher.

U.S.-listed Chinese companies traded mostly higher with nine of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

For the week ending Friday, the Dow slid 0.1 percent, while the S&P 500 and the tech-heavy Nasdaq advanced 0.1 percent and 0.7 percent, respectively.

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