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Stocks rise as European Union eyes more sanctions against Russia

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Yahoo Finance's Ines Ferre examines the market action occuring in social media stocks and Tesla, Chinese stocks, crude oil prices,

Video Transcript

RACHELLE AKUFFO: For a deeper dive in what's been happening with the market action, let's take it over to Ines Ferre who joins us now. Ines, what can you tell us? INES FERRE: Yeah, Rachelle. Well, just taking a look at the sector action right now, we're looking at communication services and consumer discretionary technology. Those are the sectors that are in the green right now. And call it the Elon effect, really, because you've got social media stocks, which are higher right now. Twitter is our trending ticker on Yahoo! Finance, up 28%. Pinterest up 12%, of course, after Elon Musk said that he-- Elon Musk has taken a stake in Twitter. You're looking at these social media stocks that are just ballooning today. Also, Tesla is up right now as well. Tesla up more than 5%. In fact, Tesla is about $100 away from its all-time high. Of course, but Tesla over the weekend announcing its production and delivery numbers that came in. And looking at also the Chinese ADRs, those are higher today over some news from China regarding a hurdle that China has taken away that could eventually lead the US to be able to get its hands on auditing documents for the companies that are listed here-- the Chinese companies listed on US exchanges. Looking at oil today, that's been rallying after oil was down for the week last week. So today, we're seeing higher oil prices and-- amid the possibility of some tougher sanctions against Russia. Guys.