NEW YORK — Stocks are off to a higher start on Wall Street today led by more gains in big tech companies.
The S&P 500 was up 0.8%. The benchmark index is coming off its eighth losing week in the last nine.
The Nasdaq rose 1.2% and the Dow rose 0.5%.
Twitter fell 4% after Tesla CEO Elon Musk threatened to call of his deal to buy the company, saying Twitter was refusing to hand over data.
Spirit Airlines rose 2% after JetBlue raised its offer to buy the rival carrier, and Amazon rose 3% after executing a 20-for-1 stock split.
Oil prices are hovering close to $120 per barrel.
A survey showed activity in Chinese retailing and other service industries shrank in May but at a slower rate than the previous month. Meanwhile, The Wall Street Journal reported Washington plans to lift tariffs on Chinese-made solar panels and Commerce Secretary Gina Raimondo said President Joe Biden was “looking at” ending other duties.