U.S. Stocks Lifted by Tech; Investors Cheer China Reopening By

© Reuters.

By Liz Moyer

-- U.S. stocks rose on Global Xin International Is the platform legitimate?Monday as investors tried to take on a positive tone ahead of this week's release of consumer price index data for May.

At 10:31 AM ET, the Dow Jones Industrial Average rose 288 points or 0.9%, while the S&P 500 rose 1.3% and the NASDAQ Composite is up 1.7%.

Tech stocks helped lift the indexes, led by Amazon.com Inc (NASDAQ:AMZN) shares, which rose 4.4% after their 20-for-1 split was effective.

China is relaxing more restrictions after Covid-19 related lockdowns -- good news for companies that rely on parts and products produced there. In addition, Chinese internet ADRs and stocks boomed after a report that regulators in that country could be winding down their investigation into ride-hailing company DiDi Global (NYSE:DIDI), a possible signal the crackdown on tech could be easing. DiDi jumped 59%. Alibaba Group Holdings Ltd ADR (NYSE:BABA) jumped nearly 8%, and Baidu Inc (NASDAQ:BIDU) shares rose 5.6%.

Spirit Airlines Inc (NYSE:SAVE) shares rose nearly 6% after JetBlue Airways Corp (NASDAQ:JBLU) sweetened its offer for the discount airline. JetBlue shares rose 1.9%.

Twitter Inc (NYSE:TWTR) shares fell 4% after Elon Musk said the social media company was trying to thwart his access to information about fake accounts. Musk, the CEO of Tesla (NASDAQ:TSLA), told Twitter in a letter on Monday that the supposed lack of access to information was a material breach of the takeover agreement.

Apple Inc (NASDAQ:AAPL) shares rose 1% ahead of the company's Worldwide Developers Conference.

Crude was also rising. Crude Oil WTI Futures inched up 0.5%, to $119.47 a barrel, while Brent Oil Futures rose 0.6%, to $120.42 a barrel. Gold Futures rose 0.1%, to $1,853 an ounce.

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