Stocks rise with growth names, dollar up on talk of more Moscow sanctions

The dollar gained for the third straight session as investors sought safety in the greenback.

"The dollar is bouncing higher as geopolitical developments have darkened clouds over the global economy," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. The Kremlin, which calls its action a "special operation" denied accusations related to the murder of civilians.

The US currency also remained buoyed by a strong non-farm payrolls report for March that backed expectations for a half of a percentage point rate hike by the Federal Reserve next month.

The dollar index rose 0.369 percent.

The euro, which has been pressured by economic worries since the invasion of Ukraine, fell 0.8 percent versus the dollar to $1.0970. Against sterling, the euro fell 0.7 percent at 83.64 pence.

On Wall Street, Twitter shares surged 27.1 percent on news that Tesla Inc Chief Executive Officer Elon Musk has built a 9.2 percent stake in Twitter Inc.

Other big growth shares also gained, with technology and consumer discretionary giving the S&P 500 its biggest boost.

"Investors are not willing to give up the names that have brought them to this point. They've been the favourites for a lot of investors and they're not ready to move on to something else," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.

The Dow Jones Industrial Average rose 103.61 points, or 0.3 percent, to 34,921.88, the S&P 500 gained 36.78 points, or 0.81 percent, to 4,582.64 and the Nasdaq Composite added 271.05 points, or 1.9 percent, to 14,532.55.

The pan-European STOXX 600 index rose 0.84 percent and MSCI's gauge of stocks across the globe gained 0.86 percent.

In the US Treasury market, the yield on 10-year Treasury notes was last at 2.404 percent while the 2-year note yield was at 2.420 percent.

The jump in US bond yields has boosted the dollar, particularly against the yen as the Bank of Japan acted repeatedly last week to keep bond yields near zero.

The US Commerce Department said factory orders fell 0.5 percent in February, in line with expectations. Data for January was revised slightly higher to show orders rising 1.5 percent instead of 1.4 percent as previously reported.

Brent crude jumped $3.14, or 3 percent, to settle at $107.53 a barrel. US West Texas Intermediate crude rose $4.01, or 4 percent, to settle at $103.28 a barrel.