Wall Street stocks were higher in morning trading on
Monday as investors tried to predict whether Russia could face even stricter
economic sanctions, while Twitter surged on a big investment from Tesla’s CEO
Elon Musk.

The S&P 500 rose 0.43% to 4,565.78 as of 11.21
Eastern Time Zone. The Dow Jones Industrial Average rose 13 points, or 0.03%,
to 34,831.37 and the Nasdaq rose 198.76 points or 1.38% to 14,458.96.

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With the benchmark S&P 500, more stocks lost ground
than made gains, but gains from technology stocks and big communications
companies helped temper losses elsewhere. With their high stock prices, tech
companies tend to have more influence on the market.

Twitter surged 23% after the company disclosed that Musk
had taken a 9.2% stake in the social media platform.

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During the past few weeks, Musk has publicly questioned
the company’s commitment to free speech. Gains in the communications sector
helped lift the S&P 500 and keep it in positive territory.

Traders continue to monitor the conflict in Ukraine,
where Russia may face even tougher economic sanctions now that details are
emerging about what appears to be deliberate killings of civilians.

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The European Union’s foreign policy chief, Josep Borrell,
has joined an increasing chorus of international condemnation of the alleged
atrocities. He said the 27-nation bloc should move ahead with sanctions against
Russia as soon as possible.

Concerns about rising inflation and the impact on global
economic growth have been raised by Russia’s invasion of Ukraine. Even though
food and clothing prices had already been rising, the war has made energy
prices even more volatile.

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US benchmark crude oil prices jumped 4.3%. Brent crude,
the international oil benchmark surged 3.6%. Prices are up nearly 40% globally,
which has put pressure on costs for gasoline and other goods.

Bond yields gained ground. The yield on the 10-year
Treasury surged to 2.43% from 2.38% late Friday. The yield on the two-year
Treasury rose to 2.47% from 2.44%.

The two-year yield remains above the 10-year yield, which
is a potentially ominous sign. Food and clothing prices had already been
rising, but the war has made energy prices even more volatile.

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The Federal Reserve has already hiked its key overnight
rate once, the first such increase since 2018. The central bank is likely to
continue raising rates throughout 2022 to help counter the impact of rising
inflation. The Fed is due to release minutes from its last meeting on
Wednesday.